EUR/USD Fundamental Analysis August 3, 2012, Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The EUR/USD continues to tumble since the statement from the ECB President. Mr. Draghi turned out like all of the politicians before him, lots of talk and promises and short on the delivery. Draghi’s statement was all very positive and a great hoorah for the eurozone, but it was not what the markets were expecting or demanding.

As time ticks by the EU continues to allow the present problems to grow. The euro is dropping like a lead balloon since Draghi’s statement and is trading at 1.2209 at this time.

In the US today, the number of people who filed applications for unemployment benefits rose by 8,000 last week to a seasonally adjusted 365,000, the Commerce Department said Thursday. Economists surveyed by MarketWatch had projected claims would rise to 370,000 from last week’s upwardly revised level of 357,000. A more stable barometer of labor-market trends, the four-week claims average, dropped 2,750 to 365,500, the lowest level since late March. The four-week average reduces seasonal volatility in the weekly data. Meanwhile, continuing claims decreased by 19,000 to a seasonally adjusted 3.27 million in the week ended July 21. About 5.96 million people received some kind of state or federal benefit in the week ended July 14, down 69,672 from the prior week.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks

Economic Data August 2, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 02

 

AUD

 

 

 

Retail Sales (MoM) 

1.0%

 

0.7% 

 

0.8% 

   

 

 

AUD

 

 

 

Trade Balance 

0.01B

 

-0.35B 

 

-0.31B 

   

 

 

EUR

 

 

 

Spanish Unemployment Change 

-27.80K

 

 

 

-98.90K 

 

 

 

 

CHF

 

 

 

Retail Sales (YoY) 

3.7%

 

2.0% 

 

6.2% 

 

 

 

 

CHF

 

 

 

SVME PMI 

48.6

 

47.0 

 

48.1 

 

 

 

 

NOK

 

 

 

Norwegian Unemployment Rate 

3.00%

 

3.00% 

 

3.00% 

 

 

 

 

EUR

 

 

 

Spanish 10-Year Obligacion Auction 

6.647%

 

 

 

6.430% 

 

 

 

 

GBP

 

 

 

Interest Rate Decision 

0.50%

 

0.50% 

 

0.50% 

 

 

 

 

GBP

 

 

 

BOE QE Total 

375B

 

375B 

 

375B 

 

 

 

Upcoming Economic Events that affect the CHF, EUR and GBP

Date

Time

Currency

Event 

Forecast

Previous

Aug 3

8:30

GBP

Services PMI

 

51.3

 

9:00

EUR

Retail Sales m/m

 

0.6%

Government Bond Auctions

Date  Time  Country 

Aug 06  09:10  Norway

Aug 07  00:30  Japan

Aug 07  09:15  Austria

Aug 07  14:30  UK

Aug 07  17:00  US

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

 

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");