By FXEmpire.com
Analysis and Recommendations:
The EUR/USD is trading at 1.2387 holding pretty steady after its march skyward at the end of last week gaining over .08%.
Today there is a lot happening the eurozone, starting with an interview released on Sunday in which Prime Minister Monti from Italy is quoted as saying that tension sparked by the Euro-zone crisis have already turned countries against each other and must not be allowed to rip Europe apart adding that Italy needs moral support from Germany and not its cash.
On Friday experts started to recognize that the ECB might have acted in a clever way as there is no giving without taking, an opinion which prevailed at the end of the day. “This ensures that reform efforts do not wane”, a trader said in a comment. Draghi did signal that there was a real commitment existing for appropriate interventions, but the governments of the troubled states would have to agree to the EFSF-/ESM regulation in return.
As a result Spanish and Italian bonds declined on Friday. The US labor data revealed to be better than expected, which fuelled the stock markets. This finally had a suction effect on the Euro as well. But there was another reason contributing to this development, namely the rumors according to which the government in Spain would officially request for EU bailout on Friday, which finally did not happen.
Representatives of the troika, consisting of the European Commission, European Central Bank and International Monetary Fund, met with Greek Finance Minister in Athens at the conclusion more than a week of meetings. The outcome will determine whether Greece continues receiving funds from the country’s 240 billion euros of rescue package.
Over the weekend, German Foreign Minister, Guido Westerwelle, warned that Europe should not rely too heavily on Germany to fix the Euro-zone crisis, and further added that coping with the debt crisis was a ‘shared task’ and that ‘everyone must pull together to find a solution’.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports
Economic Data August 6, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
||||
|
Aug. 06 |
AUD |
MI Inflation Gauge (MoM) |
0.2% |
-0.2% |
|||||
|
TWD |
Taiwanese CPI (YoY) |
2.46% |
2.02% |
1.77% |
|||||
|
AUD |
ANZ Job Advertisements (MoM) |
-0.80% |
-1.10% |
||||||
|
GBP |
Halifax House Price Index (MoM) |
-0.6% |
-0.5% |
0.8% |
|||||
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 7 |
7:00 |
CHF |
364.9B |
|
|
7:15 |
CHF |
-0.3% |
||
|
8:00 |
EUR |
0.8% |
||
|
8:30 |
GBP |
1.2% |
||
|
10:00 |
EUR |
0.6% |
||
|
14:00 |
GBP |
-0.2% |
||
|
Aug 8 |
5:45 |
CHF |
-8 |
|
|
9:30 |
GBP |
|||
|
10:00 |
EUR |
1.6% |
||
|
12:30 |
USD |
-0.9% |
||
|
12:30 |
USD |
1.3% |
||
|
14:30 |
USD |
|||
|
Aug 9 |
8:00 |
EUR |
||
|
8:30 |
GBP |
-8.4B |
||
|
12:30 |
USD |
-48.7B |
||
|
12:30 |
USD |
|||
|
Aug 10 |
6:45 |
EUR |
-1.9% |
|
|
8:30 |
GBP |
-2.2% |
||
|
12:30 |
USD |
-2.7% |
||
|
18:00 |
USD |
-59.7B |
Government Bond Auctions
Date Time Country
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Click here for updated EUR/USD News.
Originally posted here
