By FXEmpire.com
Analysis and Recommendations:
Gold was directionless today, moving between small losses and gains. With Indian markets closed for a regional holiday. There was little in the way of eco data and even less new flow, so rumor became the driving factor today. A story was released saying that the ECB was about to launch a bond cap program, to keep yields under control. This idea has been floating around the markets all month, without much response.
Today it resurfaced and haunted the markets, with the ECB mum on the subject, the rumor died after a brief rally.
There is little volume, little volatility and even less traders around, with vacation season coming to an end and school season about to begin. Traders are relaxing before the craziness of year end starts in September.
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 August 20, 2012 actual v. forecast
A very lite day
|
Aug. 16 |
NZD |
PPI Input (QoQ) |
0.6% |
-0.2% |
0.3% |
||
|
Aug. 17 |
USD |
Michigan Consumer Sentiment |
73.6 |
72.4 |
72.3 |
||
|
Aug. 20 |
GBP |
Rightmove House Price Index (MoM) |
-2.4% |
-1.7% |
|||
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 22 |
14:00 |
USD |
4.37M |
|
|
14:30 |
USD |
-3.7M |
||
|
18:00 |
USD |
|||
|
Aug 23 |
6:00 |
CHF |
2.25B |
|
|
7:00 |
EUR |
43.4 |
||
|
7:00 |
EUR |
50.0 |
||
|
7:30 |
EUR |
43.0 |
||
|
7:30 |
EUR |
50.3 |
||
|
8:00 |
EUR |
44.0 |
||
|
8:00 |
EUR |
47.9 |
||
|
8:30 |
GBP |
26.3K |
||
|
10:00 |
GBP |
11 |
||
|
12:30 |
USD |
366K |
||
|
13:00 |
USD |
51.4 |
||
|
14:00 |
USD |
350K |
Click here for further Gold Forecast.
Originally posted here
