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EUR/USD Analysis Forecast, June 05, 2015 – Forecast

EUR/USD Fundamental Analysis, June 05, 2015 - Forecast

EUR/USD Fundamental Analysis, June 05, 2015 – Forecast

Analysis and Recommendations (EUR/USD Forecast):

The EUR/USD gained 79 points to trade at 1.1353 gaining on comments from the ECB, Eurozone officials and Greek leaders. It seems that a deal is going to happen and that Greek will pay the IMF tomorrow but one never knows with Greece.  Greece and the EU said Thursday debt talks would continue to reach a deal on disputed reforms as Athens began to feel the heat of a wave of June debt repayments.

With over 300 million euros ($336 million) due to be repaid to the IMF on Friday, the radical left Greek government was under mounting pressure to reach a default-saving agreement with its creditors.

The Athens stock exchange on Thursday opened with a three-percent drop after Greece and its creditors failed to reach a breakthrough at crunch talks in Brussels late on Wednesday. However, anti-austerity Prime Minister Alexis Tsipras and European Commission chief Jean-Claude Juncker held out hope by saying they would meet again soon.

The euro rallied, headed for its biggest three-day rally in six years, as signs that the outlook for growth and inflation was improving pushed up government bond yields in the 19-nation region.

The common currency strengthened against all but one of its 16 major peers as German 10-year yields rose to the highest in eight months, narrowing the spread with U.S. Treasuries to the least since early February. European Central Bank President Mario Draghi said inflation would start picking up later this year.

US data showed solid growth in private-sector job hiring and a healthy outlook on the economy in the Fed’s latest update.

And in its closely watched Beige Book, the US central bank said the economy returned to modest-to-moderate growth in April and May after stalling in the first three months of the year, partly because of severe winter weather.

ForexTraq 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 for EUR/USD in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

 

Event

Actual

Forecast

Previous

 

  JPY

 

BoJ Governor Kuroda Speaks  

 

 

 

 

 

  AUD

 

Retail Sales (MoM) (Apr)

0.0%

0.4%

0.2%

   

  AUD

 

Trade Balance (Apr)

-3.888B

-2.250B

-1.231B

   

  GBP

 

Halifax House Price Index

-0.1%

0.3%

1.6%

 

 

  GBP

 

Halifax House Price Index

8.6%

8.5%

8.5%

 

 

  GBP

 

BoE QE Total (Jun)

 

375B

375B

 

 

  GBP

 

Interest Rate Decision (Jun)

 

0.50%

0.50%

   

 EURUSD(60 minutes)20150604042816

Upcoming Economic Events that you should be monitoring:

Friday, June 05, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

Nonfarm Payrolls (May)

 

225K

223K

 

 

  USD

 

Unemployment Rate (May)

 

5.4%

5.4%

 

 

  CAD

 

Employment Change (May)

 

10.0K

-19.7K

   

Government Bond Auctions

Date Time Country

Jun 08 12:00 Norway Details bond auction on 10 Jun

Jun 08 17:30 Italy Announces details of BTP/CCTeu on 11 June

Jun 09 11:10 Austria Holds RAGB bond sale

Jun 09 11:30 UK Auctions 0.125% 2024 I/L Gilt

Jun 10 11:15 Norway Holds bond auction

Jun 10 11:30 Germany Eur 5bn Jun 2017 Schatz

Jun 10 16:30 Sweden Details bond auction on 17 June

Jun 11 11:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Holds inflation-linked bond auction

Jun 11 11:30 UK Auctions 3.5% 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

 

EUR/USD analysis forecast

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