By FXEmpire.com
Analysis and Recommendations:
The GBP/USD climbed to 1.5695. As the US weakened after comments by the ECB supported the euro, sterling was able to gain momentum. Sterling is stronger, up 0.5% from yesterday’s close and a mid-performer against most of its peers. Movement in GBP over the next week is likely to be driven by broader market sentiment ahead of the August 1 PMI release, given the lack of tier one data, and EUR related movement should provide for considerable headline risk. Meanwhile, BoE Governor King has provided his assessment of the global economy stating that ‘at present [it] is rather far from vibrant’.
Prime Minister Cameron remarked that he was disappointed with yesterday’s GDP numbers. With the Olympics beginning tomorrow, markets should be distracted over the next few days.
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 26, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 26 |
KRW |
South Korean GDP (QoQ) |
0.4% |
0.5% |
0.9% |
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
EUR |
GfK German Consumer Climate |
5.9 |
5.8 |
5.8 |
|
|
USD |
Core Durable Goods Orders (MoM) |
-1.1% |
0.1% |
0.8% |
|
|
USD |
Durable Goods Orders (MoM) |
1.6% |
0.4% |
1.6% |
|
|
USD |
Initial Jobless Claims |
353K |
380K |
388K |
|
|
USD |
Continuing Jobless Claims |
3287K |
3310K |
3317K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 27 |
27th-31st |
GBP |
-0.6% |
|
|
All Day |
EUR |
-0.1% |
||
|
7:00 |
CHF |
1.16 |
||
|
12:30 |
USD |
1.9% |
||
|
13:55 |
USD |
72.0 |
Government Bond Auctions
Date Time Country
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here to read GBP/USD Technical Analysis.
Originally posted here
