EUR/GBP Fundamental Analysis August 20, 2012, Forecast

Posted August 17, 2012 15:03 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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