EUR/USD Fundamental Analysis September 21, 2012, Forecast
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Analysis and Recommendations:
The EUR/USD continues to decline trading at 1.2945. Global market sentiments turned negative after Chinese manufacturing data, Japanese trade balance and European manufacturing contracted raising concerns that economy is slowing down and whether stimulus measures offered by the central bankers are sufficient to revive the economy.
German Flash manufacturing PMI gained 47.3 in August as against 44.7 in the month of July. German Producers price index increased to 0.5 marks in the month of August as against zero percent in the month of July while German Flash Manufacturing PMI also improved 47.3 level in the month of August as against 44.7 level in July.
While US data was strong with a fairly positive jobless claim report but it was the Philly Fed Index that surprised markets and strengthen the USD. This compounded with positive housing data yesterday, the word recovery is whispered again. As hopes of the US economy moving out of stall mode becomes a possibility.
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 September 20, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 20 |
|
JPY |
|
|
Trade Balance |
-0.47T |
|
-0.37T |
|
-0.37T |
||
|
|
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
47.80 |
|
|
|
47.60 |
|
|
|
|
|
EUR |
|
|
French Manufacturing PMI |
42.6 |
|
46.4 |
|
46.0 |
|
|
|
|
|
EUR |
|
|
German Manufacturing PMI |
47.3 |
|
45.3 |
|
44.7 |
|
|
|
|
|
EUR |
|
|
Manufacturing PMI |
46.0 |
|
45.4 |
|
45.1 |
|
|
|
|
|
GBP |
|
|
Retail Sales (MoM) |
-0.2% |
|
-0.4% |
|
0.3% |
|
|
|
|
|
GBP |
|
|
Retail Sales (YoY) |
2.7% |
|
2.7% |
|
2.3% |
||
|
|
|
GBP |
|
|
CBI Industrial Trends Orders |
-8 |
|
-15 |
|
-21 |
|
|
|
|
|
USD |
|
|
Initial Jobless Claims |
382K |
|
375K |
|
385K |
||
|
|
|
USD |
|
|
Continuing Jobless Claims |
3272K |
|
3300K |
|
3304K |
||
|
|
|
USD |
|
|
Philadelphia Fed Manufacturing Index |
-1.9 |
|
-4.0 |
|
-7.1 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
There are no top tier eco data releases due in Europe or the US on the 21st.
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