EUR/GBP Fundamental Analysis August 28, 2012, Forecast

Posted August 27, 2012 15:28 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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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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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