EUR/USD Fundamental Analysis October 23, 2012 Forecast

Posted October 22, 2012 15:59 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

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

EUR/USD Fundamental Analysis October 23, 2012 Forecast

Analysis and Recommendations:

The EUR/USD climbed to 1.3077 once again on hopes that Spain would now formally request a bailout. Prime Minister Rajoy won his election in his home district by a strong majority, which supports austerity measures, but he lost in other districts. Traders are hoping with elections now behind him that Rajoy will take the dive and do what is needed and expected. Otherwise it was a very quiet day and weekend for the euro and the greenback with little data. Global sentiment remains a bit negative after poor earnings reports by some of the US’s most important businesses, including GE and McDonalds, Google and others pulled the bottom out of the stock market on Friday.

Traders attention is now turning to this week’s policy meeting of the Federal Reserve for its impact on the currency markets and the wider financial sector.

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 22, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 22	JPY	Trade Balance	-0.98T	-0.74T	-0.46T
	JPY	BoJ Governor Shirakawa Speaks
	TWD	Taiwanese Unemployment Rate	4.30%	4.30%	4.29%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 24	07:58	EUR	French Manufacturing PMI	44.0	42.7
	08:28	EUR	German Manufacturing PMI	48.0	47.4
	09:00	EUR	German Ifo Business Climate Index	101.6	101.4
	09:00	EUR	German Current Assessment	109.7	110.3
	09:00	EUR	German Business Expectations	94.3	93.2
	11:00	GBP	CBI Industrial Trends Orders		-8
	15:00	USD	New Home Sales	385K	373K
Oct.26	07:00	EUR	GfK German Consumer Climate	5.9	5.9
	08:00	CHF	KOF Leading Indicators	1.67	1.67

Government Bond Auction

Date Time Country

Oct 23 08:30 Spain

Oct 23 14:30 UK

Oct 23 17:00 US

Oct 24 09:10 Sweden

Oct 24 09:30 Germany

Oct 24 14:30 Sweden

Oct 24 15:30 Italy

Oct 24 16:30 US

Oct 25 00:30 Japan

Oct 25 09:10 Sweden

Oct 25 15:30 Italy

Oct 25 17:00 US

Oct 26 09:10 Italy

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