FXEMPIRE
All
Ad
Advertisement
Advertisement
Barry Norman
Add to Bookmarks

EUR/USD Fundamental Analysis December 21, 2012, Forecast
Analysis and Recommendations:

The EUR/USD is trading at 1.3245 adding 18pips. The euro is stronger, having gained 0.2% since yesterday’s close. Wednesday’s trading pattern was interesting as euro rallied above 1.33 to a new 8-month high, but failed to sustain the move and closed flat to Tuesday, suggesting the bulls easily lost control to the bears, the bulls are once again controlling the euro; today’s close will be important as a second failure to sustain gains would be concerning to bears. Fundamental data has been limited, with most of the focus on the US fiscal cliff. News that Germany will auction just €255bn in 2013, down from 2012 and the smallest amount in 5-years has grabbed headlines and halted rising German yields. The Libor scandal continues to attract headlines but has so far failed to generate a currency response.

Advertisement
Know where EUR/USD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

The euro gained against the dollar on today in thin trading as higher-than-expected U.S. economic growth data for the third quarter bolstered the market’s appetite for risk-taking.

But it was the U.S. gross domestic product report which took center stage in the currency market. Investors bought more euros as recovery in the world’s largest economy seemed to be on track. Currencies linked to global growth such as the euro and Australian dollar tend to benefit when there’s increased risk appetite.

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 December 20, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 20

 

JPY

 

 

Interest Rate Decision 

0.10%

 

0.10% 

 

0.10% 

 

 

 

 

JPY

 

 

BoJ Press Conference 

 

 

 

 

 

 

 

 

 

DKK

 

 

Danish Retail Sales (YoY) 

-0.5%

 

 

 

-1.8% 

   

 

 

HKD

 

 

Hong Kong CPI (YoY) 

3.70%

 

3.90% 

 

3.80% 

 

 

 

 

GBP

 

 

Retail Sales (MoM) 

0.0%

 

0.3% 

 

-0.7% 

   

 

 

GBP

 

 

Retail Sales (YoY) 

0.9%

 

1.5% 

 

0.8% 

   

 

 

CAD

 

 

Core Retail Sales (MoM) 

0.5%

 

0.2% 

 

0.1% 

   

 

 

CAD

 

 

Retail Sales (MoM) 

0.7%

 

0.1% 

 

0.2% 

   

 

 

USD

 

 

Initial Jobless Claims 

361K

 

357K 

 

344K 

   

 

 

USD

 

 

GDP (QoQ) 

3.1%

 

2.8% 

 

2.7% 

 

 

 

 

USD

 

 

Continuing Jobless Claims 

3225K

 

3199K 

 

3213K 

   

 

 

USD

 

 

Existing Home Sales 

 

 

4.87M 

 

4.79M 

 

 

 

 

USD

 

 

Philadelphia Fed Manufacturing Index 

 

 

-3.0 

 

-10.7 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Dec. 21

07:00

EUR

GfK German Consumer Climate 

5.9

5.9

 

09:30

GBP

Current Account 

-14.0B

-20.8B

 

09:30

GBP

GDP (QoQ) 

1.0%

1.0%

 

09:30

GBP

GDP (YoY) 

-0.1%

-0.1%

 

13:30

USD

Core Durable Goods Orders (MoM) 

-0.2%

1.8%

 

13:30

USD

Core PCE Price Index (MoM) 

0.1%

0.1%

 

13:30

USD

Durable Goods Orders (MoM) 

0.2%

0.5%

 

13:30

USD

Personal Spending (MoM) 

0.3%

-0.2%

 

14:55

USD

Michigan Consumer Sentiment 

74.7

74.5

Government Bond Auction

Date Time Country 

Dec 21 16:30 Italy  

Dec 26 01:30 Japan 

Dec 27 10:10 Italy  

Dec 28 10:10 Italy 

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker