By FXEmpire.com
Analysis and Recommendations:
Gold is entering the long US holiday weekend at 1566.25 up 8.75.
Gold held below $1570 an ounce, tracked by a multi-month low Euro coupled with robust US dollar. Worries over the debt crisis in Europe twisting out of control and crash the global economy triggered selling in eurozone currency. Bullion elicited selling to cover the losses in other markets and on encouraging economic releases from the US. The US economy is showing signs of economic revival with better employment and manufacturing figures.
As the weekends, commodities and equities were mostly up amid persisting euro zone debt woes. However, with the long weekend for the US, volume is expected to remain thin. The US markets will remain closed on Monday, 28 May on account of Memorial Day holiday. Spot gold was seen rising following an initial decline during the morning trades supported by firmer euro which as began to decline as US investors moved out of the markets or into safe assets for the holiday.
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 May 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 25 |
JPY |
Tokyo Core CPI (YoY) |
-0.8% |
-0.6% |
-0.5% |
|
EUR |
GfK German Consumer Climate |
5.7 |
5.6 |
5.7 |
|
|
CHF |
Employment Level |
4.05M |
4.02M |
4.04M |
|
|
PLN |
Polish Unemployment Rate |
12.90% |
12.80% |
13.30% |
|
|
MXN |
Mexican Unemployment Rate |
4.9% |
4.9% |
4.6% |
|
|
MXN |
Mexican Trade Balance |
0.560B |
1.000B |
1.575B |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Previous |
|
|
May 28 |
28th-31st |
GBP |
-0.2% |
|
|
May 29 |
All Day |
EUR |
0.2% |
|
|
10:00 |
GBP |
-6 |
||
|
13:00 |
USD |
-3.5% |
||
|
14:00 |
USD |
69.2 |
||
|
May 30 |
7:00 |
CHF |
0.40 |
|
|
8:00 |
EUR |
3.2% |
Click here a current Gold Chart.
Originally posted here
