By FXEmpire.com
Analysis and Recommendations:
The EUR/USD is trading at 1.3212 falling after the eco data releases today. The shared currency rose to $1.3263 before the European Commission said its April economic sentiment indicator for the 17-nation euro area fell to 92.8 from a reading of 94.5 the previous month. Economists had forecast a reading of 94.2.
The debt crisis has severely crippled financial integration in both the funding and lending markets in the euro zone, the European Central Bank said Thursday. The ECB said financial market integration has slowed since 2007, in particular since 2011
Across the Atlantic:
A softer tone for the dollar was set Wednesday after the Federal Reserve kept interest rates on hold and Fed Chairman Ben Bernanke said he remained willing to buy more bonds should the economy need help.
What’s more, a string of recent data suggesting some softening in the economy has raised concerns about whether the recovery will accelerate in the months ahead. A downturn in Europe could hurt U.S. exports, for instance, and higher gas prices could act as a drag.
The number of Americans who filed requests for jobless benefits was virtually unchanged last week at 388,000, the U.S. Labor Department said Thursday, keeping claims near their highest level of 2012. Claims from two weeks ago were revised up.
An index of pending home sales climbed 4.1% in March to reach the highest level since April 2010, the National Association of Realtors said Thursday. The index rose to 101.4 in March from an upwardly revised 97.4 in February, which represents a 12.8% gain from March 2011. February’s pending home sales index was initially reported to be 96.5. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Sales of existing homes during the first quarter were the strongest in five years
Economic Data for April 26, 2012 actual v. forecast
|
KRW |
South Korean GDP (QoQ) |
0.9% |
0.9% |
0.3% |
|
KRW |
South Korean GDP (YoY) |
2.8% |
3.0% |
3.3% |
|
GBP |
Nationwide Consumer Confidence |
53 |
42 |
44 |
|
DKK |
Danish Unemployment Rate |
4.30% |
4.30% |
4.20% |
|
GBP |
BBA Mortgage Approvals |
31.9K |
34.3K |
32.8K |
|
GBP |
CBI Distributive Trades Survey |
-6 |
-4 |
0 |
|
BRL |
Brazilian Unemployment Rate |
6.2% |
6.0% |
5.7% |
|
USD |
Initial Jobless Claims |
388K |
375K |
389K |
|
USD |
Continuing Jobless Claims |
3315K |
3295K |
3312K |
|
USD |
Pending Home Sales (MoM) |
1.0% |
-0.5% |
Economic Events scheduled for April 27, 2012 that affect the European and American Markets
06:00 EUR Gfk Consumer Confidence Survey
The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn
TBD GBP Nationwide Housing Prices
The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK’s economy.
TBD GBP Nationwide Housing Prices
The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK’s economy.
09:00 CHF KOF Leading Indicator
The KOF Swiss Leading Indicator is released by the Swiss Institute for Business Cycle Research and it’s a joint survey with leading indicator which measures future trends of the overall economic activity. It captures the movement of GDP growth and the economic trend in Switzerland
12:30 USD Gross Domestic Product Annualized
The Gross Domestic Product annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. It is a gross measure of market activity because it indicates the pace at which a country’s economy is growing or decreasing.
12:30 USD Gross Domestic Purchases Price Index
The GDP Price Index released by the Bureau of Economic Analysis, Department of Commerce gauges the change in the prices of goods and services. Changes in the GDP price index are followed as an indicator of inflationary pressure that may anticipate interest rates to rise.
12:30 USD Real Personal Consumption Expenditures
The Real Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average of the amount of money the consumers spend in a month on durable goods, consumer products, and services.. It is considered as an important indicator of inflation.
13:55 USD Reuters/Michigan Consumer Sentiment Index
The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money
Government Bond Auctions (this week)
Apr 27 09:10 Italy BTP/CCTeu auction
Apr 27 09:10 Italy Eur 1.5-2.5bn 4.75% May 2017 & Eur 1.5-2.5bn 5.5% Sep 2022 & Eur
0.75-1.25bn 3.75% Apr 2016 & 4.25% Feb 2019 BTPs
May 01 09:30 UK Auctions 4.5% 2042 Conventional Gilt
May 02 09:10 Sweden Nominal bond auction
May 02 09:30 Portugal Eur 1.25-1.5bn new Nov 2012 & new May 2013 T-bills
May 02 13:00 US Announces details of 3Y Notes on May 08, 10Y Notes on May 09 & 30Y
Bonds on May 10
May 02 14:30 Sweden Details T-bill auction on May 09
May 03 08:30 Spain Bono auction
May 03 08:50 France OAT auction
Click here for further EUR/USD Forecast.
Originally posted here
