By FXEmpire.com
Analysis and Recommendations:
The GBP/USD is trading at 1.5563 adding a few pips, as the USD declined before the release of the FOMC minutes due late in the day. Market participants are hoping to get some clue to the thinking of the US FOMC, to predict what Chairman Bernanke will introduce at the next meeting. This past weekend, two member of the FOMC in public addresses said that they would vote in favor of additional monetary stimulus.
Also today, the US trade deficit shrunk as expected. The trade balance reported at -48.7B against expectations of -48.5B, having little effect on the currency.
In the UK there was no eco data today and little press to support the sterling.
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 11, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 11 |
AUD |
RBA Assist Gov Lowe Speaks |
|||
|
KRW |
South Korean Unemployment Rate |
3.2% |
3.2% |
3.2% |
|
|
JPY |
Tertiary Industry Activity Index (MoM) |
0.7% |
0.2% |
-0.2% |
|
|
AUD |
Westpac Consumer Sentiment |
3.70% |
0.30% |
||
|
AUD |
Home Loans (MoM) |
-1.2% |
0.7% |
0.5% |
|
|
EUR |
German CPI (MoM) |
-0.1% |
-0.1% |
-0.1% |
|
|
EUR |
German CPI (YoY) |
1.7% |
1.7% |
1.7% |
|
|
EUR |
German 10-Year Bund Auction |
1.310% |
1.520% |
||
|
Trade Balance |
-0.8B |
-1.0B |
-0.6B |
||
|
USD |
Trade Balance |
-48.7B |
-48.5B |
-50.6B |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 12 |
9:00 |
EUR |
-0.8% |
|
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
7:15 |
CHF |
-0.2% |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Government Bond Auctions
Date Time Country
Jul 12 09:10 Italy
Jul 12 09:30 UK
Jul 12 15:00 US
Jul 12 17:00 US
Jul 13 09:10 Italy
Jul 13 10:00 Belgium
Click here to read GBP/USD Technical Analysis.
Originally posted here
