EUR/GBP Fundamental Analysis August 6, 2012, Forecast

Posted August 03, 2012 14:37 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/GBP is trading at 0.7892 after tumbling yesterday to the low 0.78 range, the euro has been able to pick up some of its losses.

Yesterday was the battle of the banks, and the ECB was the big loser. The BoE held rates and policy, as markets had expected, even though traders were hoping for a little give from the BoE, the results were as expected. On the other hand, markets had expected a great deal from the ECB after a pledge from the President of the ECB to have the monetary union and to not sit idly by. Action was expected, a plan a roadmap, something, but nothing was offered. The euro tumbled and remains weakened.

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 2, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 03

TRY

Turkish CPI (MoM)

-0.23%

-0.10%

-0.90%

EUR

Retail Sales (MoM)

0.1%

-0.1%

0.8%

USD

Average Hourly Earnings (MoM)

0.1%

0.2%

0.3%

USD

Nonfarm Payrolls

163K

100K

64K

USD

Unemployment Rate

8.3%

8.2%

USD

Average Weekly Hours

34.5

34.5

USD

Private Nonfarm Payrolls

172K

110K

73K

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

Date	Time	Currency	Event	Previous
Aug 6	8:30	EUR	Sentix Investor Confidence	-29.6
	23:01	GBP	BRC Retail Sales Monitor y/y	1.4%
Aug 7	7:00	CHF	Foreign Currency Reserves	364.9B
	7:15	CHF	CPI m/m	-0.3%
	8:00	EUR	Italian Industrial Production m/m	0.8%
	8:30	GBP	Manufacturing Production m/m	1.2%
	10:00	EUR	German Factory Orders m/m	0.6%
	14:00	GBP	NIESR GDP Estimate	-0.2%
Aug 8	5:45	CHF	SECO Consumer Climate	-8
	9:30	GBP	BOE Inflation Report
	10:00	EUR	German Industrial Production m/m	1.6%
	12:30	USD	Prelim Nonfarm Productivity q/q	-0.9%
	12:30	USD	Prelim Unit Labor Costs q/q	1.3%
	14:30	USD	Crude Oil Inventories
Aug 9	8:00	EUR	ECB Monthly Bulletin
	8:30	GBP	Trade Balance	-8.4B
	12:30	USD	Trade Balance	-48.7B
	12:30	USD	Unemployment Claims
Aug 10	6:45	EUR	French Industrial Production m/m	-1.9%
	8:30	GBP	PPI Input m/m	-2.2%
	12:30	USD	Import Prices m/m	-2.7%
	18:00	USD	Federal Budget Balance	-59.7B

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

Aug 13 09:10 Italy

Aug 13 09:10 Norway

Aug 13 09:30 Germany

Aug 14 09:10 Greece

Aug 14 09:10 Italy

Aug 14 09:30 Belgium

Aug 14 14:30 UK

Aug 15 09:10 Sweden

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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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