By FXEmpire.com
Analysis and Recommendations:
The GBP/USD continues to stay strong, with little eco support and caught in the middle of a flight to the safety of the USD, the pound performs nicely, holding at 1.6132.
Thursday is the day of the sterling, with the BoE rate decision, which should be a non event as it is expected that King will leave everything on hold and therefore avoid a public statement.
There are also the UK trade balance, and Industrial and manufacturing production reports. If these report well we might see the GBP move back to the 1.62 or make the 1.63 level if the USD loses some strength.
Makes are concentration on political problems throughout the eurozone with the lack of eco data and Spain, France and Greece are the focal points of attention.
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
May 10 |
08:30 |
EUR |
Dutch CPI (YoY) |
2.40% |
2.50% |
|
09:00 |
EUR |
ECB Monthly Report |
|||
|
09:30 |
GBP |
Industrial Production (MoM) |
-0.3% |
0.4% |
|
|
09:30 |
GBP |
Manufacturing Production (MoM) |
0.5% |
-1.0% |
|
|
09:30 |
GBP |
Trade Balance |
-9.6B |
-8.8B |
|
|
12:00 |
GBP |
Interest Rate Decision |
0.50% |
0.50% |
|
|
12:00 |
GBP |
BOE QE Total |
325B |
325B |
|
|
13:30 |
USD |
IImport Price Index (MoM) |
-0.2% |
1.3% |
|
|
13:30 |
USD |
Trade Balance |
-50.0B |
-46.0B |
|
|
13:30 |
USD |
Initial Jobless Claims |
369K |
365K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3278K |
3276K |
|
|
14:30 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
15:00 |
GBP |
NIESR GDP Estimate |
0.1% |
||
|
19:00 |
USD |
Federal Budget Balance |
30.0B |
-198.2B |
|
|
May 11 |
00:01 |
GBP |
Nationwide Consumer Confidence |
53 |
|
|
07:00 |
EUR |
German CPI (MoM) |
0.1% |
0.1% |
|
|
09:30 |
GBP |
PPI Input (MoM) |
-1.0% |
1.9% |
|
|
10:00 |
EUR |
Portuguese CPI (MoM) |
1.20% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
0.0% |
||
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for updated GBP/USD News.
Originally posted here
