EUR/USD Fundamental Analysis October 17, 2012 Forecast

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EUR/USD Fundamental Analysis October 17, 2012 Forecast

EUR/USD Fundamental Analysis October 17, 2012 Forecast

Analysis and Recommendations:

The EUR/USD gained some momentum ahead of the EU Summit scheduled for Thursday and Friday. Interviews, press releases, public statements are already starting to hit the news as Finance Ministers and government officials get their names in print. The pair is trading at 1.3043.

European Union economic data showed Euro zone inflation was unchanged in September, at a 2.6% annual rate. The German ZEW economic expectations index rose in September, suggesting less risk for the German economy. The market place is awaiting the latest GDP report from China, due out Thursday. EU officials will also meet in Brussels Thursday to once again discuss the EU debt crisis. The Euro currency did get some support Tuesday on reports Spanish officials may be considering making a formal request to the EU for financial assistance.

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 16, 2012 actual v. forecast

Date

Time

 

Currency

 

Importance

 

Event

Actual

 

Forecast

 

Previous

Oct. 16

01:30

 

AUD

 

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

 

09:30

 

GBP

 

 

 

Core CPI (YoY) 

2.1%

 

2.1%

 

2.1% 

 

09:30

 

GBP

 

 

 

CPI (YoY) 

2.2%

 

2.2%

 

2.5% 

 

09:30

 

GBP

 

 

 

PPI Input (MoM) 

-0.2%

 

-0.1%

 

1.9% 

 

09:30

 

GBP

 

 

 

CPI (MoM) 

0.4%

 

0.4%

 

0.5% 

 

09:30

 

GBP

 

 

 

PPI Input (YoY) 

-1.2%

 

-0.8%

 

1.1% 

 

10:00

 

EUR

 

 

 

CPI (YoY) 

2.6%

 

2.7%

 

2.7% 

 

10:00

 

EUR

 

 

 

German ZEW Economic Sentiment 

-11.5

 

-15.0

 

-18.2 

 

10:00

 

EUR

 

 

 

ZEW Economic Sentiment 

-1.4

 

-1.1

 

-3.8 

 

10:00

 

EUR

 

 

 

Core CPI (YoY) 

1.5%

 

1.6%

 

1.5% 

 

13:30

 

USD

 

 

 

Core CPI (MoM) 

0.1%

 

0.2%

 

0.1% 

 

13:30

 

USD

 

 

 

CPI (MoM) 

0.6%

 

0.5%

 

0.6% 

 

13:30

 

CAD

 

 

 

Foreign Securities Purchases 

6.90B

 

8.72B

 

6.67B 

 

13:30

 

CAD

 

 

 

Manufacturing Sales (MoM) 

1.50%

 

1.00%

 

-0.80% 

 

13:30

 

USD

 

 

 

CPI (YoY) 

2.0%

 

1.9%

 

1.7% 

 

13:30

 

USD

 

 

 

Core CPI (YoY) 

2.0%

 

2.0%

 

1.9% 

 

14:00

 

USD

 

 

 

TIC Net Long-Term Transactions 

90.0B

 

45.3B

 

67.2B 

 

14:15

 

USD

 

 

 

Industrial Production (MoM) 

0.4%

 

0.2% 

 

-1.4% 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 17

09:30

GBP

Average Earnings Index +Bonus 

 

1.5%

 

09:30

GBP

Claimant Count Change 

 

-15.0K

Oct. 18

09:30

GBP

Retail Sales (MoM) 

0.4%

-0.2%

 

09:30

GBP

Retail Sales (YoY) 

2.1%

2.7%

Government Bond Auction

Date Time Country 

Oct 17 09:10 Sweden 

Oct 17 09:30 Germany 

Oct 17 09:30 Portugal 

Oct 17 10:00 Norway 

Oct 17 14:30 Sweden 

Oct 18 08:30 Spain           

Oct 18 08:50 France 

Oct 18 09:30 UK 

Oct 18 09:50 France 

Oct 18 14:30 Sweden 

Oct 18 15:00 US 

Oct 18 17:00 US 

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About: FX Empire Analyst - Barry Norman

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