By FXEmpire.com
Analysis and Recommendations:
The EUR/USD declined today at trade as 1.2341 off by 0.0059. With no major catalyst to drive them aside from ongoing interpretation and reinterpretation of ECB President Draghi’s remarks at his press conference last week, markets continued their see-saw, trading lower today in Europe on the major equity indices while EURUSD trades below 1.24.
News flow has generally been negative, with S&P affirming its CCC rating on Greece, but revising the outlook to negative. German exports were mixed, with headline falling -1.5%m/m, faster than consensus, but with an upward revision to the May release.
Markets remain focused on Chinese data due to be released over the next two days.
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 8, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 08 |
JPY |
Adjusted Current Account |
0.77T |
0.75T |
0.28T |
|
AUD |
Home Loans (MoM) |
1.3% |
2.0% |
-0.9% |
|
|
CHF |
SECO Consumer Climate |
-17 |
-4 |
-8 |
|
|
GBP |
BoE Inflation Report |
||||
|
EUR |
German 10-Year Bund Auction |
1.420% |
1.310% |
||
|
EUR |
German Industrial Production (MoM) |
-0.9% |
-0.8% |
1.7% |
|
|
USD |
Nonfarm Productivity (QoQ) |
1.6% |
1.3% |
-0.5% |
|
|
USD |
Unit Labor Costs (QoQ) |
1.7% |
0.6% |
5.6% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Aug 13 09:10 Italy
Aug 13 09:10 Norway
Aug 13 09:30 Germany
Aug 14 09:10 Greece
Aug 14 09:10 Italy
Aug 14 09:30 Belgium
Aug 14 14:30 UK
Aug 15 09:10 Sweden
Aug 16 09:30 UK
Aug 16 15:00 US
Click here for further EUR/USD Forecast.
Originally posted here
