By FXEmpire.com
Analysis and Recommendations:
The GBP/USD fell on the overall strength of the greenback, to trade today at 1.6153 falling all week after reaching the upper 1.62 range last week with hopes that it could break through to the 1.63 range.
In the early part of the week there is little in the way of econ data from either side of the Atlantic. Today the RICS House Price balance exceeded forecast, but the UK housing market has been in the dumps for long while an no was expecting much more.
With the BoE meeting on the 10th and markets expecting no changes and therefore no statement there is little excitement here, but the main event will be the trade balance and industrial and manufacturing production reports, which could lift the pound back towards the 1.63 level.
Eco Data for May 8, 2012, a very thin day
|
GBP |
RICS House Price Balance |
-19% |
-10% |
-10% |
|
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
|
Housing Starts |
245K |
204K |
215K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
May 10 |
08:30 |
EUR |
2.40% |
2.50% |
|
|
09:00 |
EUR |
||||
|
09:30 |
GBP |
-0.3% |
0.4% |
||
|
09:30 |
GBP |
0.5% |
-1.0% |
||
|
09:30 |
GBP |
-9.6B |
-8.8B |
||
|
12:00 |
GBP |
0.50% |
0.50% |
||
|
12:00 |
GBP |
325B |
325B |
||
|
13:30 |
USD |
-0.2% |
1.3% |
||
|
13:30 |
USD |
-50.0B |
-46.0B |
||
|
13:30 |
USD |
369K |
365K |
||
|
13:30 |
USD |
3278K |
3276K |
||
|
14:30 |
USD |
||||
|
15:00 |
GBP |
0.1% |
|||
|
19:00 |
USD |
30.0B |
-198.2B |
||
|
May 11 |
00:01 |
GBP |
53 |
||
|
07:00 |
EUR |
0.1% |
0.1% |
||
|
09:30 |
GBP |
-1.0% |
1.9% |
||
|
10:00 |
EUR |
1.20% |
|||
|
13:30 |
USD |
0.3% |
|||
|
13:30 |
USD |
0.0% |
|||
|
14:55 |
USD |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here to read GBP/USD Technical Analysis.
Originally posted here
