By FXEmpire.com
Analysis and Recommendations:
The GBP/USD dipped today, to trade at 1.5545 as the US gathered momentum. The strongest push was the negative eco data from Germany where unemployment numbers climbed unexpectedly. The US was strong on the back of housing data, durable goods and today’s GDP release.US unemployment numbers came in below forecast but close enough to be considered market neutral.
It was the UK data that disturbed investors; following the release of a slightly weaker final print for Q1 GDP we saw an immediate drop in the strength of the pound. The weakness has increased the likelihood of further easing from the BoE and has been a near term weight on GBP. UK housing prices have also fallen as a BoE survey has indicated tighter lending conditions, highlighting the need for action to support ongoing deleveraging in both the consumer and government sectors. And the UK current account grew to 11.2billion pounds.
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 28, 2012 actual v. forecast… and you didn’t think it could get worse. The German workhorse breaks a leg…
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 28 |
JPY |
Retail Sales (YoY) |
3.6% |
3.0% |
5.7% |
|
AUD |
HIA New Home Sales (MoM) |
0.7% |
6.9% |
||
|
GBP |
Nationwide HPI (MoM) |
-0.6% |
0.1% |
0.2% |
|
|
EUR |
German Unemployment Rate |
6.8% |
6.7% |
6.8% |
|
|
EUR |
German Unemployment Change |
7K |
5K |
0K |
|
|
GBP |
Business Investment (QoQ) |
1.9% |
3.6% |
3.6% |
|
|
GBP |
Current Account |
-11.2B |
-9.0B |
-7.2B |
|
|
GBP |
GDP (QoQ) |
-0.3% |
-0.3% |
-0.3% |
|
|
GBP |
GDP (YoY) |
-0.2% |
-0.1% |
-0.1% |
|
|
EUR |
Italian 10-Year BTP Auction |
6.19% |
6.03% |
And the good news is or almost good news
|
USD |
Initial Jobless Claims |
386K |
385K |
392K |
|
USD |
GDP Price Index (QoQ) |
2.0% |
1.7% |
1.7% |
|
USD |
GDP (QoQ) |
1.9% |
1.9% |
1.9% |
|
USD |
Continuing Jobless Claims |
3296K |
3280K |
3311K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 29 |
29th-4th |
EUR |
0.6% |
|
|
6:45 |
EUR |
0.6% |
||
|
7:00 |
CHF |
0.81 |
||
|
8:00 |
EUR |
2.5% |
||
|
9:00 |
EUR |
2.4% |
||
|
12:30 |
USD |
0.1% |
||
|
12:30 |
USD |
0.3% |
||
|
13:45 |
USD |
52.7 |
||
|
13:55 |
USD |
74.1 |
Click here a current GBP/USD Chart.
Originally posted here
