By FXEmpire.com
Analysis and Recommendations:
Gold inched up and is hovering near $1605.75 per ounce underpinned by a strong Euro. The Euro held firm against the dollar on anticipation of more monetary policy actions from the Euro zone and US, attracting speculator bets on the currency.
US Federal Reserve Chairman Ben Bernanke testified that the Fed was ready to act if necessary but not see any need to at present and offered no additional policy.. The event was closely monitored by investors on hopes of any hints of another round of monetary easing program. Bullion already absorbed the news of the European Central Bank’s rate announcement and comments by its Chairman Mario Draghi. The ECB kept the rates and economic outlook unchanged at their yesterday’s meeting. Looking ahead, general elections in Greece and G20 meeting are the other key events bullion keenly watches out.
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 7, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
AUD |
Employment Change |
38.9K |
-5.0K |
15.5K |
|
|
AUD |
Unemployment Rate |
5.1% |
5.1% |
5.0% |
|
|
CHF |
Unemployment Rate |
3.2% |
3.2% |
3.1% |
|
|
GBP |
Halifax House Price Index (MoM) |
0.5% |
0.5% |
-2.4% |
|
|
CHF |
CPI (MoM) |
0.0% |
0.1% |
0.1% |
|
|
GBP |
Services PMI |
53.3 |
52.7 |
53.3 |
|
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
|
USD |
Initial Jobless Claims |
377K |
377K |
389K |
|
|
USD |
Continuing Jobless Claims |
3293K |
3245K |
3259K |
|
|
Ivey PMI |
60.5 |
55.0 |
52.7 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Previous |
|
|
Jun 8 |
8:30 |
GBP |
-1.5% |
|
|
8:30 |
GBP |
3.5% |
||
|
12:30 |
USD |
-51.8B |
||
|
14:00 |
USD |
Government Bond Auctions
Date Time Country
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Jun 11 09:10 Norway
Jun 11 09:10 Slovakia
Jun 11 09:30 Germany
Jun 11 15:30 Italy
Jun 12 08:30 Holland
Jun 12 09:15 Austria
Jun 12 09:30 Belgium
Jun 12 09:30 UK
Jun 12 14:30 UK
Jun 12 17:00 US
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 a current Gold Chart.
Originally posted here
