EUR/USD Fundamental Analysis October 11, 2012 Forecast

Posted October 10, 2012 16:04 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/USD Fundamental Analysis October 11, 2012 Forecast

Analysis and Recommendations:

The EUR/USD added back a few pips today to trade at 1.2904. Market mood was seen wobbly as global growth concern continues to weigh on after the International Monetary Fund cut its global growth forecasts to 3.3% compared to 3.5% estimated in July.

The day is thin on major economic indicators from the U.S but talking point is more likely to revolve around the outcome of the meeting between Greek Prime Minister Antonio Samaras and French President François Hollande later in the evening. The meeting is important at this juncture in time as Greece continues to rage under debt crisis and IMF’s reiteration that Greece needs to do more to evaluate the implementation of an economic revamp to meet its bailout program. The week on the whole is likely to remain languid in the midst of no major economic releases from the U.S. However, multiple Euro leaders’ meeting across Europe could keep markets on toes. With the job market in the U.S still looking sluggish, market participants would be ardently looking at the weekly jobless claims numbers to take their stance on the current labor situation in the country.

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 October 10, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 10	KRW	South Korean Unemployment Rate	3.1%	3.2%	3.1%
	AUD	Westpac Consumer Sentiment	1.00%		1.60%
	KRW	South Korean M2 Money supply	9.20%		9.00%
	EUR	German WPI (MoM)	1.3%	0.5%	1.1%
	JPY	Machine Tool Orders (YoY)	-3.0%		-2.7%
	EUR	Finnish Industry Output (MoM)	-1.40%		2.00%
	EUR	French Industrial Production (MoM)	1.5%	-0.2%	0.6%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	07:00	EUR	German CPI (MoM)	0.0%	0.0%
	07:00	EUR	German CPI (YoY)	2.0%	2.0%
	07:45	EUR	French CPI (MoM)	0.1%	0.7%
	13:30	USD	Import Price Index (MoM)	0.7%	0.7%
	13:30	USD	Trade Balance	-44.0B	-42.0B
	13:30	USD	Initial Jobless Claims	370K	367K
	13:30	USD	Continuing Jobless Claims	3275K	3281K
	19:00	USD	Federal Budget Balance	-4.0B	-191.0B

Government Bond Auction

Date Time Country

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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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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