EUR/GBP Fundamental Analysis August 20, 2012, Forecast

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Analysis and Recommendations:

The EUR/GBP is trading at 0.7846 down a few pips off by 0.0009 as the euro lost a bit of its momentum.

Eurozone current account came in at +15.7bn; while the trade balance came in at +10.5bn partially driven by an m/m export increase of 2.4%. Finland’s foreign minister confirmed that they have prepared for break‐up scenarios; but later suggested that his comments were misrepresented in the media.

There was no eco data in the UK, so the movement here was just market fluctuations and in response to the euro, but there was little activity anywhere in the markets today.

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 August 17, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

 

 

EUR

 

 

 

German PPI (MoM) 

0.0%

 

0.4% 

 

-0.4% 

 

 

 

 

EUR

 

 

 

German PPI (YoY) 

0.9%

 

1.3% 

 

1.6% 

 

 

 

 

EUR

 

 

 

Current Account 

12.7B

 

11.1B 

 

10.3B 

   

 

 

EUR

 

 

 

Trade Balance 

10.5B

 

5.4B 

 

6.8B 

   

 

 

CAD

 

 

 

Core CPI (MoM) 

-0.1%

 

0.2% 

 

-0.4% 

 

 

 

 

CAD

 

 

 

CPI (MoM) 

-0.1%

 

0.2% 

 

-0.4% 

 

 

 

 

CAD

 

 

 

CPI (YoY) 

1.3%

 

2.0% 

 

1.5% 

 

 

 

 

USD

 

 

 

Michigan Consumer Sentiment 

73.6

 

72.4 

 

72.3 

 

 

 

 

USD

 

 

 

Michigan Inflation Expectations 

3.6%

 

 

 

3.0% 

   

 

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

        Date

Time

Currency

Event 

Previous

Aug 21

8:30

GBP

Public Sector Net Borrowing

12.1B

 

10:00

GBP

CBI Industrial Order Expectations

-6

Aug 22

14:00

USD

Existing Home Sales

4.37M

 

14:30

USD

Crude Oil Inventories

-3.7M

 

18:00

USD

FOMC Meeting Minutes

 

 

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About: FX Empire Analyst - Barry Norman

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