By FXEmpire.com
Analysis and Recommendations:
Gold is trading at 1611.65 up 14.85. Gold had weakened slightly after a relatively choppy trading session yesterday to climb today. Reports of Europe’s $125 billion bailout package to Spain’s banks had given a short period of comfort to investors earlier. Latest data from the US is showing a slow down on US recovery but Fed chairman Ben Bernanke provided few clues on probable monetary easing in his last congressional testimony. However bullion investors are suspicious over new positions in bullion ahead of the outcome of imminent key events. Greek vote on June 17, G 20 meeting and US Federal Reserve policy meeting are the upcoming events. At the same time, providing signals of rising investor demand, holdings of exchange traded funds rose to its highest levels since the start of May. Market sentiment changed as the day progressed, investors turned more and more negative on the euro and returned to safe haven mode, moving back to the USD and gold at the same time, which is quite unusual
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 12, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 12 |
GBP |
RICS House Price Balance |
-16% |
-18% |
-19% |
|
JPY |
Tertiary Industry Activity Index (MoM) |
-0.3% |
0.4% |
-0.6% |
|
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
AUD |
NAB Business Confidence |
-2 |
4 |
||
|
EUR |
French Non-Farm Payrolls (QoQ) |
0.1% |
0.1% |
0.1% |
|
|
GBP |
Industrial Production (MoM) |
0.0% |
0.1% |
-0.3% |
|
|
GBP |
Manufacturing Production (MoM) |
-0.7% |
-0.2% |
0.9% |
|
|
GBP |
Industrial Production (YoY) |
-1.0% |
-1.0% |
-2.6% |
|
|
USD |
Import Price Index (MoM) |
-1.0% |
-1.0% |
0.0% |
|
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 13 |
7:15 |
CHF |
-0.1% |
||
|
9:00 |
EUR |
-0.3% |
|||
|
12:30 |
USD |
-0.2% |
|||
|
12:30 |
USD |
0.1% |
|||
|
14:00 |
USD |
0.3% |
|||
|
14:30 |
USD |
-0.1M |
|||
|
Jun 14 |
7:30 |
CHF |
|
|
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here to read Gold Technical Analysis.
Originally posted here
