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FX Headlines: European Data Watch for July 9, 2013

FX Headlines: European Data Watch for July 9, 2013

Christopher Vecchio, CFA, Senior Strategist

EUROPEAN FX HEADLINES: WEEK OF JULY 7

- British Pound Holds Key Support – Lacks Direction Ahead of BoE Minutes

- Euro Hurt by Shift in ECB Policy, Bearish Fundamental Pressures Turned Up

- June NFPs Support Taper Case, US Dollar – Light Data Week Ahead

EURO-ZONE ECONOMIC CALENDAR

There are no data on the Euro economic calendar for Tuesday, July 9.

See the Euro economic calendar for the week of July 7 to 12.

UK ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_July_9_2013_body_Picture_1.png, FX Headlines: European Data Watch for July 9, 2013

Some mixed/disappointing UK data are due tomorrow, but in context of the stronger May and June PMI surveys, it is possible that both the Industrial Production (MAY) and Manufacturing Production (MAY) prints beat expectations modestly. Trade figures should remain depressed, as the Sterling was stronger in May. Overall, 2Q’13 UK growth appears to have strengthened, which should be reflected in another modest NIESR GDP Estimate (JUN).

SWISS ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_July_9_2013_body_x0000_i1028.png, FX Headlines: European Data Watch for July 9, 2013

Recent data has been supportive of a stronger Swiss economy in recent months, and likewise, a solid print for the Retail Sales (MAY) report should be expected; a print around the prior reading’s +3.3% y/y is reasonable, and would be supportive of the Swiss Franc in the crosses (AUDCHF, CADCHF, etc).

See the DailyFX Economic Calendar for a full list, timetable, and consensus forecasts for upcoming economic indicators. Want the forecasts to appear right on your charts? Download the DailyFX News App.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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