Last Updated (Sunday, 09 June 2013 10:38 GMT) GMT

EUR/USD Fundamental Outlook And Economic Strength Meter

The EUR/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for EUR/USD. This is mainly derived from the recent major economic releases and news. The EUR/USD economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

EUR/USD - Recent Economic Releases

Europe

EUR: Sentix Investor Confidence: -11.6, less than the consensus of -10.0 but better than the previous -15.6.

EUR: German Consumer Price Index: Year on year change 1.5% was same as the consensus and better than the previous 1.1%. Same with the month on moth data of 0.4% against the previous -0.5%. The year on year harmonized CPI at 1.6% was slightly less than the consensus of 1.7% but was quite better that the previous 1.1%.

EUR: Industrial Production (YoY): -0.6%, positive as compared to the consensus (-1.2%) as well as the previous -1.4%.

EUR: Consumer Price Index: Year on year change was same as the consensus i.e. 1.4% and better than the previous 1.2%. Same with the year on year core CPI which was 1.2% against the previous 1%. Month on month CPI (0.1%) was also more than the previous -0.1%.

EUR: Employment Change (Q1): Year on year change was -1.0% was less than the previous -0.8%. Same with the quarter on quarter change which went down to -0.5% from the previous -0.3%.

U.S.A.

USD: Monthly Budget Statement: US$ - 139.0 billion, quite negative as compared to the consensus (USD -110 billion) as well as the previous 112.9 billion US dollars.

USD: Jobless Claims: Initial jobless claims dropped to 334K and the data was positive as compared to the consensus (345K)as well as the previous 346K.

USD: Retail Sales (MoM): 0.6%, positive as compared to the consensus as (0.4%) well as the previous 0.1%. Retail sales ex-autos was 0.3% and same as the consensus but was better than the previous month's 0.0%.

USD: Producer Price Index (YoY): 1.7%, positive as compared to the consensus (1.4%) as well as the previous 0.6%.

USD: Industrial Production (MoM): 0.0% and though less than the consensus of 0.2% but was better than the previous drop of -0.4%.

USD: Reuters/Michigan Consumer Sentiment Index (prelim.): 82.7, negative as compared to the consensus as well as the previous 84.5.