By FXEmpire.com
Analysis and Recommendations:
The EUR/USD ended the day up trading at 1.2547 adding 0.0030. There was little in the way of eco data, and what was released did not sway markets. Today’s trading was on news flow in regards to Spain and Greece, as markets were uncertain about the overall bailout offered to Spain and where the money was coming from and in Greece, polls showed the elections were very close.
After ditching hopes of a QE3 last week, the Federal Reserve is all set to jump back into the limelight with the much anticipated FOMC meeting slated for 19th -20th June, with this event scheduled at the backdrop of Greece election results, financial markets could be in for a twist. With US economy showing signs of stagnation off-late, pertaining to a series of lackluster economic numbers, all eyes this week would be on the Retail sales and Industrial production numbers to kick start the economy.
The US Trade Balance was at a deficit of $50.1 billion in April as against a previous deficit of $52.6 billion a month ago. Wholesale Inventories increased by 0.6 percent in April from rise of 0.3 percent in previous month.
China’s Trade Balance was at a surplus of 18.7 billion Yuan in previous month as against 18.4 billion Yuan in April. Consumer Price Index (CPI) rose at slow pace of 3 percent in May from previous rise of 3.4 percent in April. Producer Price Index (PPI) declined by 1.4 percent in last month as compared to previous decline of 0.7 percent in April. Fixed Asset Investment was at 20.1 percent in May with respect to 20.2 percent a month ago. Industrial Production increased by 9.6 percent in May when compared to 9.3 percent in April. Retail Sales was at 13.8 percent in prior month from 14.1 percent in April.
On a weekly basis, the US Dollar Index (DX) declined by 0.5 percent on the back of positive sentiments in the global markets which led to fall in demand for the low yielding currency. Additionally, US equities also gained more than 3.5 percent during the week. The DX touched a low of 81.96 and closed at 82.47 on Friday.
The Euro appreciated by 0.7 percent during the week on the back of ease in concerns over the region’s debt crisis coupled with weakness in the DX. The currency touched a high of 1.2625 in last week and closed at 1.2516 on Friday.
German Trade Balance was at a surplus of 14.1 billion Euros in April as against previous surplus of 14 billion Euros a month ago.
French Gov Budget Balance was at deficit of 59.9 billion Euros in April from previous deficit of 29.4 billion Euros in March. French Trade Balance was at a deficit of 5.8 billion Euros in April compared to deficit of 5.6 billion Euros a month earlier. Italian Industrial Production declined by 1.9 percent in April with respect to rise of 0.6 percent in prior month.
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 June 9-10-11, 2012 actual v. forecast ( today was very lite for all of Europe and the US. The Chinese Eco data, had the most effects on the markets )
|
Jun. 09 |
CNY |
Chinese CPI (YoY) |
3.0% |
3.2% |
3.4% |
|
|
CNY |
Chinese PPI (YoY) |
-1.4% |
-1.1% |
-0.7% |
||
|
CNY |
Chinese CPI (MoM) |
-0.3% |
-0.1% |
-0.1% |
||
|
CNY |
Chinese Fixed Asset Investment (YoY) |
20.1% |
20.0% |
20.2% |
||
|
CNY |
Chinese Industrial Production (YoY) |
9.6% |
9.9% |
9.3% |
||
|
CNY |
Chinese Retail Sales (YoY) |
13.8% |
14.3% |
14.1% |
||
|
Jun. 10 |
CNY |
Chinese Trade Balance |
18.70B |
16.30B |
18.40B |
|
|
Jun. 11 |
JPY |
BSI Large Manufacturing Conditions |
-5.7 |
-2.4 |
-7.3 |
|
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 12 |
5:45 |
CHF |
|||
|
8:30 |
GBP |
0.9% |
|||
|
12:30 |
USD |
-0.5% |
|||
|
14:00 |
GBP |
0.1% |
|||
|
18:00 |
USD |
59.1B |
|||
|
Jun 13 |
7:15 |
CHF |
-0.1% |
||
|
9:00 |
EUR |
-0.3% |
|||
|
12:30 |
USD |
-0.2% |
|||
|
12:30 |
USD |
0.1% |
|||
|
14:00 |
USD |
0.3% |
|||
|
14:30 |
USD |
-0.1M |
|||
|
Jun 14 |
7:30 |
CHF |
|
|
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 12 08:30 Holland
Jun 12 09:15 Austria
Jun 12 09:30 Belgium
Jun 12 09:30 UK
Jun 12 14:30 UK
Jun 12 17:00 US
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here for updated EUR/USD News.
Originally posted here
