GBP/USD Fundamental Analysis June 6, 2012, Forecast

Analysis and Recommendations:

The GBP/USD held pretty close to its open, trading at 1.5353 as the USD regained some of its lost momentum after a positive services ISM report in the US. The UK markets are closed for the Queens Jubilee 4 day holiday. There has been no data or trading in the UK since last week. 

The pair have just moved on global sentiment.On Wednesday traders return to the markets and we should see some movement especially against the euro. 

The G7 phone conference yielded little results and was restricted to conversations regarding Spain.  While Europe will be a focal point, no clear agenda is available and the outcome is likely to yield general statements or silence across It’s pure speculation whether the call is about a push toward some grand plan for Europe in advance of the bigger G20 Summit in Mexico on June 18th-19th, or (more likely in my opinion) quite the opposite in terms of preparing contingencies for worst case scenarios surrounding Greek elections on the 17th and Spain’s bank funding requirements.  

 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 for June 5, 2012 actual v. forecast

  

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

Government Bond Auctions

Date  Time  Country 

Jun 06  09:30  Germany 

Jun 06  09:30  Portugal 

Jun 06 14:30  UK 

Jun 07  00:30  Japan 

Jun 07  08:30  Spain 

Jun 07  08:50  France 

Jun 07  09:10  Sweden 

Jun 07  15:00  US 

Jun 08  10:00  Belgium 

Jun 08  15:30  Italy