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

Trade Balance

2.10B

 
 

8:00am

EUR

French Flash Manufacturing PMI

43.8

2.25B

 

8:00am

EUR

French Flash Services PMI

50.1

43.4

Aug 23

8:30am

EUR

German Flash Manufacturing PMI

43.6

50.0

 

8:30am

EUR

German Flash Services PMI

50.2

43.0

 

9:00am

EUR

Flash Manufacturing PMI

44.3

50.3

 

9:00am

EUR

Flash Services PMI

47.9

44.0

 

9:30am

GBP

BBA Mortgage Approvals

28.2K

47.9

 

11:00am

GBP

CBI Realized Sales

16

26.3K

 

1:30pm

USD

Unemployment Claims

365K

11

 

2:00pm

USD

Flash Manufacturing PMI

51.3

366K

 

3:00pm

USD

New Home Sales

362K

51.4

 

9:30am

GBP

Revised GDP q/q

-0.5%

350K

 

9:30am

GBP

Prelim Business Investment q/q

2.8%

-0.7%

 

1:30pm

USD

Core Durable Goods Orders m/m

0.5%

1.9%

Aug 24

1:30pm

USD

Durable Goods Orders m/m

2.8%

-1.4%

 

2:00pm

EUR

Belgium NBB Business Climate

-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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About: FX Empire Analyst - Barry Norman

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