EUR/GBP Fundamental Analysis February 8, 2012, Forecast
Fundamental Reports
Economic Events: (GMT)
There are no major economic events scheduled in Europe or the USA on Wednesday.
EUR/GBP Fundamental Analysis February 8, 2012, Forecast
Analysis and Recommendations:
The pair EUR/GBP is currently 0.8343 up .0045. The euro surged today, on news of a Greek final plan. According to the Financial Times, Papademos has submitted a “final draft” of the terms of the bailout to party leaders, who are set to decide on the measures later Tuesday. Why the markets have reacted so irrationality to this small step in a very large battle, is difficult to interpret. There is not even an acceptable plan on the table and once approved in Greece it faces many hurdles within the EU, the ECB and the IMF and then there is Germany who will have their own input.
By Wednesday’s trading the markets should have recovered and we should see the euro declining to a more realistic point.
Review of Tuesdays Economic Reports
|
00:01 |
GBP |
BRC Retail Sales Monitor (YoY) |
-0.3% |
-0.8% |
2.2% |
|
03:30 |
AUD |
Interest Rate Decision |
4.25% |
4.00% |
4.25% |
|
03:30 |
AUD |
RBA Rate Statement |
|
|
|
|
05:00 |
JPY |
Leading Index |
94.3 |
93.8 |
93.7 |
|
07:45 |
EUR |
French Trade Balance |
-5.0B |
-5.3B |
-4.1B |
|
08:00 |
TWD |
Taiwanese Trade Balance |
0.42B |
2.10B |
2.31B |
|
11:00 |
EUR |
German Industrial Production |
-2.9% |
-0.1% |
0.0% |
|
11:30 |
CLP |
Chilean Trade Balance |
1.98B |
1.15B |
0.39B |
|
13:30 |
CAD |
Building Permits (MoM) |
11.1% |
0.8% |
-2.6% |
|
15:00 |
USD |
IBD/TIPP Economic Optimism |
49.4 |
48.3 |
47.5 |
|
16:30 |
USD |
4-Week Bill Auction |
0.060% |
|
0.050% |
Scheduled Sovereign Bond Sales
Feb 07 09:00 Netherlands Eur 5.0bn Jul 2022 DSL
Feb 07 10:10 Greece 6M T-bill auction
Feb 07 10.30 UK Auctions 1.75% 2017 conventional Gilt
Feb 07 15:30 UK Details gilt auction on Feb 16
Feb 07 18:00 US Auctions 3Y Notes
Feb 08 10:10 Sweden Nominal bond auction
Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl
Feb 08 10:30 Swiss Bond auction
Feb 08 16:30 Italy Details BOT auction on Feb 13
Feb 08 18:00 US Auctions 10Y Notes
Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 09 15:30 Sweden Details I/L bond auction on Mar 23
Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16
Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14
Feb 09 18:00 Italy Auctions 30Y Bonds
Feb 10 11:00 Belgium OLO auction
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