EUR/GBP Fundamental Analysis August 30, 2012, Forecast

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Analysis and Recommendations:

The EUR/GBP dipped as the euro weakened slightly today, trading at 0.7921. With light news and traders focused on central banks there was little Fx movement globally. The euro weakened as news that Catalonia has requested a bailout of 5 billion euros from the Spanish government, which might upset the apple cart so to speak and throw some kinks into the plans that Mr. Draghi has been working on of late.

There was little news to support the pound, so the action was just in response to the weakness of the euro.

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 30, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Aug. 29

 

AUD

 

 

Construction Work Done (QoQ) 

-0.2%

 

1.0%

 

7.8%

 

 

CHF

 

 

KOF Leading Indicators 

1.57

 

1.50

 

1.41

 

 

EUR

 

 

German CPI (MoM) 

0.3%

 

0.2%

 

0.4%

 

 

EUR

 

 

German CPI (YoY) 

2.0%

 

1.8%

 

1.7%

 

 

USD

 

 

GDP (QoQ) 

1.7%

 

1.7%

 

1.5%

 

 

USD

 

 

Pending Home Sales (MoM) 

2.4%

 

1.0%

 

-1.4%

 

 

USD

 

 

Beige Book 

 

 

 

 

 

 

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

Date

Time

 

Currency

 

 

Event

Forecast

 

Previous

 

 

Aug. 30

08:00

 

DKK

 

 

Danish Unemployment Rate 

4.70% 

 

4.60% 

 

 

 

08:55

 

EUR

 

 

German Unemployment Rate 

6.8% 

 

6.8% 

 

 

 

08:55

 

EUR

 

 

German Unemployment Change 

8K 

 

7K 

 

 

 

13:30

 

USD

 

 

Core PCE Price Index (MoM) 

0.1% 

 

0.2% 

 

 

 

13:30

 

CAD

 

 

Current Account 

-15.0B 

 

-10.3B 

 

 

 

13:30

 

USD

 

 

Personal Spending (MoM) 

0.4% 

 

0.0% 

 

 

 

13:30

 

USD

 

 

Initial Jobless Claims 

370K 

 

372K 

 

 

 

13:30

 

USD

 

 

Continuing Jobless Claims 

3307K 

 

3317K 

   

 

Government Bond Auctions

Date Time Country 

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

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