By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is in an amazing battle, trading at 0.8062 moving up from the opening at .08050. With little eco data from the UK and the BoE rate decision due on the 10th, there is no reason for the euro to gain strength here, except the fact that the pound was trading to high.
On May 10th not only do we see the Bank of England rate decision but we see a slew of eco data, which will either push the pound back towards the 1.63 price or see it fall below the 1.58 level, whichever it might be it will be an interesting two days for the GBP
Eco Data for May 8, 2012, a very thin day
|
GBP |
RICS House Price Balance |
-19% |
-10% |
-10% |
|
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
|
Housing Starts |
245K |
204K |
215K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
May 10 |
08:30 |
EUR |
2.40% |
2.50% |
|
|
09:00 |
EUR |
||||
|
09:30 |
GBP |
-0.3% |
0.4% |
||
|
09:30 |
GBP |
0.5% |
-1.0% |
||
|
09:30 |
GBP |
-9.6B |
-8.8B |
||
|
12:00 |
GBP |
0.50% |
0.50% |
||
|
12:00 |
GBP |
325B |
325B |
||
|
13:30 |
USD |
-0.2% |
1.3% |
||
|
13:30 |
USD |
-50.0B |
-46.0B |
||
|
13:30 |
USD |
369K |
365K |
||
|
13:30 |
USD |
3278K |
3276K |
||
|
14:30 |
USD |
||||
|
15:00 |
GBP |
0.1% |
|||
|
19:00 |
USD |
30.0B |
-198.2B |
||
|
May 11 |
00:01 |
GBP |
53 |
||
|
07:00 |
EUR |
0.1% |
0.1% |
||
|
09:30 |
GBP |
-1.0% |
1.9% |
||
|
10:00 |
EUR |
1.20% |
|||
|
13:30 |
USD |
0.3% |
|||
|
13:30 |
USD |
0.0% |
|||
|
14:55 |
USD |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here to read EUR/GBP Technical Analysis.
Originally posted here
