Weekly Analysis and Recommendations The EUR/GBP kicked off the holiday week trading at 0.8160 and climbed to end the week at 0.8178 off the highs hit
Weekly Analysis and Recommendations
The EUR/GBP kicked off the holiday week trading at 0.8160 and climbed to end the week at 0.8178 off the highs hit mid-week of 0.8825 as traders sold off the euro to book profits ahead of any final outcome in the US. There was very little eco data or news from the European markets and leaders as they were mostly closed for the extended Christmas holiday. Sterling recovered from an eight-month low against the euro on Friday as some investors such as macro funds sold into the common currency’s recent rally and booked profits before the year end. Gains for the British pound were likely to be capped by uncertainty about UK recovery and expectations that the Bank of England may have to ease monetary policy early next year.
Date |
Last |
Open |
High |
Low |
Change % |
Dec 28, 2012 |
0.8178 |
0.8221 |
0.8225 |
0.8171 |
-0.52% |
Dec 27, 2012 |
0.8221 |
0.8204 |
0.8224 |
0.8185 |
0.21% |
Dec 26, 2012 |
0.8204 |
0.8168 |
0.8209 |
0.8167 |
0.44% |
Dec 25, 2012 |
0.8168 |
0.8184 |
0.8184 |
0.8168 |
-0.20% |
Dec 24, 2012 |
0.8184 |
0.8160 |
0.8185 |
0.8149 |
0.29% |
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.
Major Economic Events for the week of December 24 -28 actual v. forecast for Euro, GPB, the Franc, and USD
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
Dec. 27 |
GBP |
BBA Mortgage Approvals |
33.6K |
34.6K |
33.1K |
|
USD |
Initial Jobless Claims |
350K |
360K |
362K |
|
USD |
Continuing Jobless Claims |
3206K |
3200K |
3238K |
|
USD |
CB Consumer Confidence |
65.1 |
70.0 |
71.5 |
|
USD |
New Home Sales |
377K |
378K |
361K |
Dec. 28 |
EUR |
French Consumer Spending (MoM) |
0.2% |
0.1% |
-0.1% |
|
EUR |
French GDP (QoQ) |
0.1% |
0.2% |
0.2% |
|
EUR |
Italian 10-Year BTP Auction |
4.48% |
4.45% |
|
|
USD |
Chicago PMI |
51.6 |
51.0 |
50.4 |
|
USD |
Pending Home Sales (MoM) |
1.7% |
1.0% |
5.0% |
Historical: From 2010 to Present
Highest: 0.9150 EUR on March 01, 2010.
Average: 1.1548 EUR over this period.
Lowest: 0.7758 EUR on July 22, 2012
Economic Highlights of the coming week that affect the Euro, GBP, CHF and the USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Jan. 01 |
01:00 |
CNY |
51.00 |
50.60 |
|
Jan. 02 |
00:00 |
EUR |
0.7% |
-0.1% |
|
|
00:00 |
EUR |
1.9% |
1.9% |
|
|
08:00 |
CHF |
1.38 |
1.50 |
|
|
15:00 |
USD |
50.2 |
49.5 |
|
Jan. 03 |
08:00 |
CHF |
1.35 |
1.50 |
|
|
08:30 |
CHF |
48.5 |
48.5 |
|
|
08:55 |
EUR |
10K |
5K |
Upcoming Government Bond
Date Time Country
Thursday, January 5: France will auction an estimated €7-8 billion ($9.1-10.4 billion) in 10-year and other long-term bonds
Tuesday, January 10: Austria will auction €1.3 billion ($1.7 billion) in 5- and 10-year bonds
Thursday, January 12: Spanish 3- and 5-year bond auction
Friday, January 13: Italy will auction medium-long term bonds
Thursday, January 19: France will auction 5-year bonds
Thursday, January 19: Spanish 10-, 15-, and 30-year bond auction
Thursday, January 26: Italian long-term bond auction
Monday, January 30: Italian medium-long term bond auction
Monday, January 30: Belgian bond auction