EUR/GBP Fundamental Analysis August 28, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendations:

The EUR/GBP added a few pips to trade at 0.7917, with the UK closed for its summer bank holiday. There was not much in the way of news or eco data except out of Germany. Germany’s Ifo survey for August showed small declines on the margin (the survey fell from a reading of 102.3 to 103.2), but the concern is that its key overall ‘business climate index’ is now at the lowest point that it has seen during the Eurozone crisis cycle. The IFO survey has been less volatile over the past number of months than a variety of other German indicators, so the survey’s drop-off doesn’t seem to be just another sign that respondents have been reading pessimistic news reports. Both the current conditions metric and the expectations metric of the survey’s index showed moderate declines.

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 27, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 27

 

SEK

 

 

 

Swedish Retail Sales (MoM) 

0.30%

 

0.20% 

 

-0.30% 

   

 

 

EUR

 

 

 

German Ifo Business Climate Index 

102.3

 

102.6 

 

103.2 

   

 

 

EUR

 

 

 

German Current Assessment 

111.2

 

110.8 

 

111.5 

   

 

 

EUR

 

 

 

German Business Expectations 

94.2

 

95.0 

 

95.5 

   

 

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

Date

Time

Currency

Event

Previous

Aug. 28

07:00

EUR

GfK German Consumer Climate 

5.9 

 

15:00

USD

CB Consumer Confidence 

65.9 

Aug. 29

01:00

EUR

German CPI (MoM) 

0.4% 

 

01:00

EUR

German CPI (YoY) 

1.7% 

Government Bond Auctions

Date Time Country 

28/8  10:30  Spain

28/8  11:00  Italy 

28/8  19:00  US 

29/8  11:00  Italy 

29/8  19:00  US 

30/8  05:35  Japan

30/8  11:00  Italy 

30/8  19:00  US

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