EUR/USD Fundamental Analysis August 22, 2012, Forecast
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Analysis and Recommendations:
The EUR/USD gained on positive market sentiment today to trade at 1.2469. Markets around the globe so far were seen heading for a bull run on escalating speculation that leader’s could carve out plan during meetings this week to tame off the crisis in the Euro region and avert a possible contagion. The series of meetings between leaders in Europe are likely to set the tone for market moves this week. Into the twilight session, no major economic data are scheduled for release from the U.S.
German Chancellor Angela Merkel and French president François Hollande are expected to converge in Berlin on 23rd August to discuss on possible bond buying measures by the ECB and on adjustment over the interest on the Greek bailout loans.
Also, Greek Prime Minister Antonis Samaras will hold this week his first meetings with Euro zone leaders since taking office in a bid to assure for more austerity measures. As far as economic data are concerned, the U.S housing and durable goods orders would be the key events to watch out for and are more likely to paint further assurance for the U.S economic recuperation. Overall, the week moves could remain incarcerated to outcome of meetings in Europe.
The expectation that the Euro Zone leaders may make headway in tackling the region’s debt crisis boosted the euro in today’s session
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 August 22, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Aug. 21 |
|
AUD |
|
|
Monetary Policy Meeting Minutes |
|
|
|
|
|
|
||
|
|
|
NZD |
|
|
Inflation Expectations (QoQ) |
2.3% |
|
|
|
2.4% |
|
||
|
|
|
HKD |
|
|
Hong Kong CPI (YoY) |
1.60% |
|
3.40% |
|
3.70% |
|
||
|
|
|
GBP |
|
|
CBI Industrial Trends Orders |
-21 |
|
-8 |
|
-6 |
|
||
|
|
|
CAD |
|
|
Wholesale Sales (MoM) |
-0.1% |
|
0.4% |
|
0.9% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Aug 22 |
7:00am |
CHF |
2.10B |
||
|
8:00am |
EUR |
43.8 |
2.25B |
||
|
8:00am |
EUR |
50.1 |
43.4 |
||
|
Aug 23 |
8:30am |
EUR |
43.6 |
50.0 |
|
|
8:30am |
EUR |
50.2 |
43.0 |
||
|
9:00am |
EUR |
44.3 |
50.3 |
||
|
9:00am |
EUR |
47.9 |
44.0 |
||
|
9:30am |
GBP |
28.2K |
47.9 |
||
|
11:00am |
GBP |
16 |
26.3K |
||
|
1:30pm |
USD |
365K |
11 |
||
|
2:00pm |
USD |
51.3 |
366K |
||
|
3:00pm |
USD |
362K |
51.4 |
||
|
9:30am |
GBP |
-0.5% |
350K |
||
|
9:30am |
GBP |
2.8% |
-0.7% |
||
|
1:30pm |
USD |
0.5% |
1.9% |
||
|
Aug 24 |
1:30pm |
USD |
2.8% |
-1.4% |
|
|
2:00pm |
EUR |
-10.8 |
1.3% |
||
Government Bond Auctions
Date Time Country
21/8 10:30 Spain
21/8 12:00 EFSF
22/8 11:30 Germany
22/8 11:10 Sweden
23/8 05:45 Japan
23/8 11:30 UK
23/8 19:00 US
27/8 11:30 Germany
28/8 10:30 Spain
28/8 11:00 Italy
28/8 19:00 US
29/8 11:00 Italy
29/8 19:00 US
30/8 05:35 Japan
30/8 11:00 Italy
30/8 19:00 US
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