Analysis and Recommendations:
Gold has been directionless since the FOMC disappointed markets yesterday and offered no immediate assistance, although they did change their outlook on the economy to a more negative view.
Today’s headline event petered out with Draghi and company offering no new guidance, no plan and no direct actions.
Gold is expected to continue to decline in this current market.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthlyanalysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks
Economic Data August 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 02 |
AUD |
Retail Sales (MoM) |
1.0% |
0.7% |
0.8% |
|
AUD |
Trade Balance |
0.01B |
-0.35B |
-0.31B |
|
|
EUR |
Spanish Unemployment Change |
-27.80K |
-98.90K |
||
|
CHF |
Retail Sales (YoY) |
3.7% |
2.0% |
6.2% |
|
|
CHF |
SVME PMI |
48.6 |
47.0 |
48.1 |
|
|
NOK |
Norwegian Unemployment Rate |
3.00% |
3.00% |
3.00% |
|
|
EUR |
Spanish 10-Year Obligacion Auction |
6.647% |
6.430% |
||
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
375B |
375B |
375B |
Upcoming Economic Events that affect the USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 3 |
12:30 |
USD |
80K |
||
|
12:30 |
USD |
8.2% |
|||
|
12:30 |
USD |
0.3% |
|||
|
14:00 |
USD |
52.1 |
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
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Originally posted here
