By FXEmpire.com
Analysis and Recommendations:
The EUR/USD climbed in today’s session, as the euro is trading at 1.2711.
There was a more positive sentiment towards the EU today, after Greece announced the formation of a coalition government and the supportive steps announced by the G20 nations to build growth and protect the markets from contagion from the EU. Investors moved into more risk assets today.
Overall, movement in FX markets remains relatively limited ahead of today’s key FOMC events. Most other majors are flat from yesterday’s close, despite the release of market-moving data and central bank minutes in Japan and the UK. Yields in Spain have fallen, with the 10Y down below 7.0%, as have Italy’s, despite complaints from the Italian banking sector regarding their struggle to increase capital levels as their asset quality deteriorates. Additionally, rumors surrounding the use of European rescue funds continue to be rebuffed, despite pleas from Italy’s Monti, and even France’s Hollande.
Expect ongoing headline risk out of Europe given Friday’s events, as finance ministers prepare ahead of next week’s EU summit, and as Merkel, Monti, Hollande, and Rajoy meet to discuss their plan of action. However, economic data set for release tomorrow may renew concerns, given the importance that ECB President Draghi places on PMI’s and given that they have been deteriorating continually over the past few months.
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 for June 20, 2012 actual. v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
JPY |
Trade Balance |
-0.66T |
-0.36T |
-0.51T |
|
|
GBP |
Average Earnings Index +Bonus |
1.4% |
0.8% |
0.9% |
|
|
GBP |
Claimant Count Change |
8.1K |
-3.0K |
-12.8K |
|
|
USD |
Interest Rate Decision |
0.25% |
0.25% |
||
|
USD |
FOMC Statement |
||||
|
USD |
Fed Chairman Bernanke Speaks |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 21 |
6:00 |
CHF |
1.33B |
||
|
7:00 |
EUR |
44.7 |
|||
|
7:00 |
EUR |
45.1 |
|||
|
7:15 |
CHF |
7.9% |
|||
|
7:30 |
EUR |
45.2 |
|||
|
7:30 |
EUR |
51.8 |
|||
|
8:00 |
EUR |
9.1B |
|||
|
8:00 |
EUR |
45.1 |
|||
|
8:00 |
EUR |
46.7 |
|||
|
8:30 |
GBP |
-2.3% |
|||
|
10:00 |
GBP |
-17 |
|||
|
12:30 |
USD |
386K |
|||
|
13:00 |
USD |
54.0 |
|||
|
14:00 |
USD |
4.62M |
|||
|
14:00 |
USD |
-5.8 |
|||
|
Jun 22 |
8:00 |
EUR |
106.9 |
||
|
All Day |
EUR |
||||
|
13:00 |
EUR |
-11.2 |
Upcoming Government Bond Auctions
Date Time Country
Jun 21 08:30 Spain
Jun 21 08:50 France
Jun 21 09:30 UK
Jun 21 09:50 France
Jun 21 15:00 US
Jun 21 17:00 US
Jun 22 15:30 Italy
Jun 25 09:10 Norway
Jun 25 09:30 Germany
Jun 25 10:00 Belgium
Jun 25 15:30 Italy
Jun 26 00:30 Japan
Jun 26 08:30 Holland
Jun 26 08:30 Spain
Jun 26 09:10 Italy
Jun 26 09:30 UK
Jun 26 14:30 UK
Jun 26 17:00 US
Click here for updated EUR/USD News.
Originally posted here
