EUR/GBP Fundamental Analysis May 29, 2012, Forecast

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Analysis and Recommendations:

The EUR/GBP  followed the markets today, trading at 0.7988. As markets climbed in early trading as investors sentiment was on a positive note. 

The market sentiments are likely to remain subdued in wake of Memorial Day holiday for the U.S markets. However, opinion polls in Greece hinted that the pro-bailout New Democracy party is leading the exit polls, much to the delight of investors. This week will see the release of heavyweight economic data, with the most important ones to look for would be the U.S consumer confidence, manufacturing,

GDP and Payrolls data. Any incongruity in these data could have a significant bearing on the commodity price movements.  

With Chinese economy going through a rough patch, all eyes are glued to the government manufacturing figures schedule for release on Friday. After a series of muddled job numbers off-late from the U.S, financial markets would be anticipating strong assuring numbers from this week’s Nonfarm Payrolls data, which is projected to show companies in the U.S adding 150K more jobs in May. Looking ahead, European investor sentiments are prone to set the tone for this week amid political bedlam in Greece and rising debt contagion in the region. 

By mid day, worries over Spain’s banking system, turned sentiment negative to see the Dollar Index climb and the euro and its partners move back to close to the opening levels. 

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 May 28, 2012 actual v. forecast

May 28

 

AUD

 

 

 

RBA Governor Stevens Speaks 

 

 

 

 

 

 

 

 

 

JPY

 

 

 

CSPI (YoY) 

0.2%

 

-0.1% 

 

-0.2% 

  

 

 

SEK

 

 

 

Swedish Retail Sales (MoM) 

-0.20%

 

0.10% 

 

0.10% 

  

 

 

SEK

 

 

 

Swedish Trade Balance 

4.70B

 

 

 

5.40B 

  

 

 

EUR

 

 

 

Italian Business Confidence 

86.2

 

88.6 

 

89.1 

  

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

 

Previous

May 29

All Day

EUR

German Prelim CPI m/m

0.2%

10:00

GBP

CBI Realized Sales

-6

13:00

USD

S&P/CS Composite-20 HPI y/y

-3.5%

14:00

USD

CB Consumer Confidence

69.2

May 30

7:00

CHF

KOF Economic Barometer

0.40

8:00

EUR

M3 Money Supply y/y

3.2%

8:30

GBP

Net Lending to Individuals m/m

1.4B

14:00

USD

Pending Home Sales m/m

4.1%

23:01

GBP

GfK Consumer Confidence

-31

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About:FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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