By FXEmpire.com

Analysis and Recommendations:

The EUR/USD continues to gain momentum. Trading at 1.2327 holding on to yesterday’s gains and adding. The disappointing US GDP although at forecast, leaves traders hoping for monetary stimulus from the Feds this coming week.

Market mood was sanguine after ECB chairman pledged to do the necessary to combat the debt crisis in the Euro region, which is showing no signs of respite.

Overall, the week has remained succumb to events transpiring in Europe and the U.S economic data. Looking ahead into the next week, markets are likely to remain on toes with some heavyweight economic data slated for release in terms of the FOMC rate decision and job numbers from the U.S. With Job market in the U.S still sluggish and hampering other indicators, market watchers would be fervently looking for the Nonfarm Payrolls data next week to take a better account of the labor situation in the world’s largest economy.

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 July 27, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 27

JPY

Tokyo Core CPI (YoY)

-0.6%

-0.7%

-0.6%

JPY

Retail Sales (YoY)

0.2%

1.2%

3.6%

CHF

KOF Leading Indicators

1.43

1.25

1.15

SEK

Swedish Retail Sales (MoM)

-0.40%

0.20%

0.30%

EUR

German CPI (MoM)

0.4%

0.4%

-0.1%

EUR

German CPI (YoY)

1.7%

1.7%

1.7%

USD

GDP (QoQ)

1.5%

1.5%

2.0%

Upcoming Economic Events that affect the CHF, EUR and GBP

Date

Time

Currency

Event

Forecast

Previous

Jul 30

30th-31st

GBP

Nationwide HPI m/m

0.8%

-0.6%

7:00

EUR

Spanish Flash GDP q/q

-0.3%

8:30

GBP

Net Lending to Individuals m/m

1.3B

10:00

GBP

CBI Realized Sales

42

23:01

GBP

GfK Consumer Confidence

-29

Jul 31

6:45

EUR

French Consumer Spending m/m

0.4%

7:55

EUR

German Unemployment Change

7K

9:00

EUR

CPI Flash Estimate y/y

2.4%

9:00

EUR

Unemployment Rate

11.1%

Aug 1

1st-8th

GBP

Halifax HPI m/m

1.0%

7:15

EUR

Spanish Manufacturing PMI

41.1

7:45

EUR

Italian Manufacturing PMI

44.6

8:30

GBP

Manufacturing PMI

48.6

Aug 2

7:00

EUR

Spanish Unemployment Change

-98.9K

7:15

CHF

Retail Sales y/y

6.2%

7:30

CHF

SVME PMI

48.1

8:30

GBP

Construction PMI

48.2

11:00

GBP

Asset Purchase Facility

375B

11:00

GBP

Official Bank Rate

0.50%

0.50%

11:45

EUR

Minimum Bid Rate

0.75%

0.75%

12:30

EUR

ECB Press Conference

Aug 3

8:30

GBP

Services PMI

51.3

9:00

EUR

Retail Sales m/m

0.6%

Government Bond Auctions

Date Time Country

Jul 30 09:10 Italy

Jul 30 10:00 Belgium

Jul 31 00:30 Japan

Jul 31 09:30 Belgium

Aug 01 09:30 Germany

Aug 01 10:00 Norway

Aug 01 13:00 US

Aug 02 08:30 Spain

Click here to read EUR/USD Technical Analysis.

Originally posted here