EUR/GBP Fundamental Analysis August 3, 2012, Forecast

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Analysis and Recommendations:

The EUR/GBP  declined right along with the euro after the ECB offered no plan, do action just more promises of tomorrows. Markets are now demanding immediate action by the EU Leadership. This pair dropped to trade at 0.7852

The Bank of England on Thursday left its key lending rate unchanged and made no changes to its planned asset purchases. As expected, the bank said its Monetary Policy Committee left the so-called bank rate at a record low 0.5%, where it has stood since March 2009, and remains on track to bring total asset purchases, the centerpiece of its quantitative-easing strategy, to 375 billion pounds ($583 billion). The bank raised the size of its asset-buying program by 50 billion pounds last month and said Thursday that it expects purchases to take another three months to complete. “The scale of the program will be kept under review,” the bank said.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks

Economic Data August 2, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 02

 

AUD

 

 

 

Retail Sales (MoM) 

1.0%

 

0.7% 

 

0.8% 

  

 

 

AUD

 

 

 

Trade Balance 

0.01B

 

-0.35B 

 

-0.31B 

  

 

 

EUR

 

 

 

Spanish Unemployment Change 

-27.80K

 

 

 

-98.90K 

 

 

 

 

CHF

 

 

 

Retail Sales (YoY) 

3.7%

 

2.0% 

 

6.2% 

 

 

 

 

CHF

 

 

 

SVME PMI 

48.6

 

47.0 

 

48.1 

 

 

 

 

NOK

 

 

 

Norwegian Unemployment Rate 

3.00%

 

3.00% 

 

3.00% 

 

 

 

 

EUR

 

 

 

Spanish 10-Year Obligacion Auction 

6.647%

 

 

 

6.430% 

 

 

 

 

GBP

 

 

 

Interest Rate Decision 

0.50%

 

0.50% 

 

0.50% 

 

 

 

 

GBP

 

 

 

BOE QE Total 

375B

 

375B 

 

375B 

 

 

 

Upcoming Economic Events that affect the CHF, EUR and GBP

Date

Time

Currency

Event 

Forecast

Previous

Aug 3

8:30

GBP

Services PMI

 

51.3

 

9:00

EUR

Retail Sales m/m

 

0.6%

Government Bond Auctions

Date  Time  Country 

Aug 06  09:10  Norway

Aug 07  00:30  Japan

Aug 07  09:15  Austria

Aug 07  14:30  UK

Aug 07  17:00  US

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

 

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About:FX Empire Analyst - Barry Norman

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