GBP/USD Fundamental Analysis February 8, 2012, Forecast
Economic Events: (GMT)
There are no major economic events scheduled in Europe or the USA on Wednesday.
Analysis and Recommendations:
The GBP/USD is currently trading at 1.5883 the USD is lower in trading today as the possibility of a Greek deal becomes clear. According to the Financial Times, Papademos has submitted a “final draft” of the terms of the bailout to party leaders, who are set to decide on the measures later Tuesday.
This news alone has pushed the USD down beyond expectations. We should see the dollar recover duing US trading on Tuesday afternoon USA time or Wednesday.
Review of Tuesday’s Economic Reports
|
00:01 |
GBP |
BRC Retail Sales Monitor (YoY) |
-0.3% |
-0.8% |
2.2% |
|
03:30 |
AUD |
Interest Rate Decision |
4.25% |
4.00% |
4.25% |
|
03:30 |
AUD |
RBA Rate Statement |
|||
|
05:00 |
JPY |
Leading Index |
94.3 |
93.8 |
93.7 |
|
07:45 |
EUR |
French Trade Balance |
-5.0B |
-5.3B |
-4.1B |
|
08:00 |
TWD |
Taiwanese Trade Balance |
0.42B |
2.10B |
2.31B |
|
11:00 |
EUR |
German Industrial Production |
-2.9% |
-0.1% |
0.0% |
|
11:30 |
CLP |
Chilean Trade Balance |
1.98B |
1.15B |
0.39B |
|
13:30 |
Building Permits (MoM) |
11.1% |
0.8% |
-2.6% |
|
|
15:00 |
USD |
IBD/TIPP Economic Optimism |
49.4 |
48.3 |
47.5 |
|
16:30 |
USD |
4-Week Bill Auction |
0.060% |
0.050% |
Scheduled Sovereign Bond Sales
Feb 08 10:10 Sweden Nominal bond auction
Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl
Feb 08 10:30 Swiss Bond auction
Feb 08 16:30 Italy Details BOT auction on Feb 13
Feb 08 18:00 US Auctions 10Y Notes
Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 09 15:30 Sweden Details I/L bond auction on Mar 23
Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16
Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14
Feb 09 18:00 Italy Auctions 30Y Bonds
Feb 10 11:00 Belgium OLO auction
Originally posted here
