By FXEmpire.com
Analysis and Recommendations:
Gold is trading at 1626.45 virtually at a standstill. With the FOMC statement tomorrow, markets have been preparing for Chairman Bernanke’s Gold Bounce Strategy.
Market sentiments were rather hazy in spite of European leaders agreeing to move towards a more integrated banking system to stem the debt crisis that threatens the survival of the Euro as concerns over the rising yield on Spanish bonds continue to weigh on. The leaders of G-20 continued their two-day summit in Mexico, with the financial crisis in Europe dominating the discussions, which the White House pronounce to be a key risk to the global economy.
Also in the limelight today was the US housing numbers which were disappointing as starts fell while permits soared balancing each other and cancelling each other.
Amid the strings of disappointing economic numbers off-late and the escalating debt crisis in Europe which threatened the recovery for the US economy, the Federal Reserve FOMC meeting on Wednesday would be eagerly looked at in anticipation that the Federal Reserve will announce a new round of extraordinary monetary stimulus, such as big purchases of bonds, to revive the stalling US economic situation. With crisis in Europe taking leaps and turns, the European finance ministers would be meeting in Luxemburg on Thursday to discuss the European crisis and evaluate the Greek election outcome. Also, topping the agenda would be discussions on enhancing the firepower of the EFSF. Overall, volatility is likely to the byword this week with markets expected to vacillate over events surfacing in Europe and the U.S. As a market watcher, the week could see financial markets at whim of Europe and the Fed.
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 June 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 19 |
AUD |
Monetary Policy Meeting Minutes |
|||
|
GBP |
Core CPI (YoY) |
2.2% |
2.3% |
2.1% |
|
|
GBP |
CPI (YoY) |
2.8% |
3.0% |
3.0% |
|
|
GBP |
CPI (MoM) |
-0.1% |
0.1% |
0.6% |
|
|
EUR |
German ZEW Economic Sentiment |
-16.9 |
4.0 |
10.8 |
|
|
EUR |
ZEW Economic Sentiment |
-20.1 |
-5.7 |
-2.4 |
|
|
USD |
Building Permits |
0.780M |
0.728M |
0.723M |
|
|
USD |
Housing Starts |
0.708M |
0.720M |
0.744M |
|
|
Wholesale Sales (MoM) |
1.5% |
1.0% |
0.3% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 20 |
6:00 |
EUR |
0.2% |
||
|
8:30 |
GBP |
-13.7K |
|||
|
8:30 |
GBP |
0-0-9 |
0-0-9 |
||
|
8:30 |
GBP |
8.2% |
|||
|
9:00 |
CHF |
-4.0 |
|||
|
14:30 |
USD |
-0.2M |
|||
|
16:30 |
USD |
||||
|
16:30 |
USD |
|
|
||
|
18:00 |
USD |
||||
|
18:15 |
USD |
||||
|
Jun 21 |
6:00 |
CHF |
1.33B |
||
|
7:00 |
EUR |
44.7 |
|||
|
7:00 |
EUR |
45.1 |
|||
|
7:15 |
CHF |
7.9% |
|||
|
7:30 |
EUR |
45.2 |
|||
|
7:30 |
EUR |
51.8 |
|||
|
8:00 |
EUR |
9.1B |
|||
|
8:00 |
EUR |
45.1 |
|||
|
8:00 |
EUR |
46.7 |
|||
|
8:30 |
GBP |
-2.3% |
|||
|
10:00 |
GBP |
-17 |
|||
|
12:30 |
USD |
386K |
|||
|
13:00 |
USD |
54.0 |
|||
|
14:00 |
USD |
4.62M |
|||
|
14:00 |
USD |
-5.8 |
|||
|
Jun 22 |
8:00 |
EUR |
106.9 |
||
|
All Day |
EUR |
||||
|
13:00 |
EUR |
-11.2 |
Click here to read Gold Technical Analysis.
Originally posted here
