By FXEmpire.com
Analysis and Recommendations:
The GBP/USD has dipped in today’s trading, exchanging at this writing at 1.5558, just about where it has been most of the week. With no domestic data, the pair are left to trade on headline risk as it remains at a technically important retracement level (see middle chart) following its recent rally. Near term drivers for GBP remain BoE Governor King’s annual Mansion House speech tomorrow afternoon, and trade figures set for release on Friday. Markets are likely to react to any indications of a direction for monetary policy, given the challenging growth environment and the recent rise in dovish rhetoric from some of the MPC’s more vocal members.
In the US today, most of the eco data as disappointing and should have weakened the USD, but news flow has been more important, with most attention drawn to Greece, Spain and of course the EU
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 13, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
Jun. 13 |
00:00 |
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
01:30 |
AUD |
Westpac Consumer Sentiment |
0.30% |
0.80% |
|||
|
06:30 |
EUR |
French CPI (MoM) |
-0.1% |
0.2% |
0.1% |
||
|
07:00 |
EUR |
German CPI (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
07:00 |
EUR |
German CPI (YoY) |
1.9% |
1.9% |
1.9% |
||
|
08:15 |
CHF |
PPI (MoM) |
-0.2% |
-0.2% |
-0.1% |
||
|
10:00 |
EUR |
Industrial Production (MoM) |
-0.8% |
-1.0% |
-0.1% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.2% |
0.2% |
0.2% |
||
|
13:30 |
USD |
Core Retail Sales (MoM) |
-0.4% |
0.0% |
-0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
-1.0% |
-0.6% |
-0.2% |
||
|
13:30 |
USD |
Retail Sales (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
13:30 |
USD |
PPI (YoY) |
0.7% |
1.1% |
1.9% |
||
|
13:30 |
USD |
Core PPI (YoY) |
2.7% |
2.8% |
2.7% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
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 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here for further GBP/USD Forecast.
Originally posted here
