EUR/GBP Fundamental Analysis May 29, 2012, Forecast

Posted May 28, 2012 15:58 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The EUR/GBP followed the markets today, trading at 0.7988. As markets climbed in early trading as investors sentiment was on a positive note.

The market sentiments are likely to remain subdued in wake of Memorial Day holiday for the U.S markets. However, opinion polls in Greece hinted that the pro-bailout New Democracy party is leading the exit polls, much to the delight of investors. This week will see the release of heavyweight economic data, with the most important ones to look for would be the U.S consumer confidence, manufacturing,

GDP and Payrolls data. Any incongruity in these data could have a significant bearing on the commodity price movements.

With Chinese economy going through a rough patch, all eyes are glued to the government manufacturing figures schedule for release on Friday. After a series of muddled job numbers off-late from the U.S, financial markets would be anticipating strong assuring numbers from this week’s Nonfarm Payrolls data, which is projected to show companies in the U.S adding 150K more jobs in May. Looking ahead, European investor sentiments are prone to set the tone for this week amid political bedlam in Greece and rising debt contagion in the region.

By mid day, worries over Spain’s banking system, turned sentiment negative to see the Dollar Index climb and the euro and its partners move back to close to the opening levels.

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 May 28, 2012 actual v. forecast

May 28

AUD

RBA Governor Stevens Speaks

JPY

CSPI (YoY)

0.2%

-0.1%

-0.2%

SEK

Swedish Retail Sales (MoM)

-0.20%

0.10%

SEK

Swedish Trade Balance

4.70B

5.40B

EUR

Italian Business Confidence

86.2

88.6

89.1

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

Date	Time	Currency		Previous
May 29	All Day	EUR	German Prelim CPI m/m	0.2%
	10:00	GBP	CBI Realized Sales	-6
	13:00	USD	S&P/CS Composite-20 HPI y/y	-3.5%
	14:00	USD	CB Consumer Confidence	69.2
May 30	7:00	CHF	KOF Economic Barometer	0.40
	8:00	EUR	M3 Money Supply y/y	3.2%
	8:30	GBP	Net Lending to Individuals m/m	1.4B
	14:00	USD	Pending Home Sales m/m	4.1%
	23:01	GBP	GfK Consumer Confidence	-31

Want to read more articles like this one?

Enter your e-mail address and read FX Empire content directly from your inbox.

We value your privacy. Your e-mail address will not be shared.

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

View all of FX Empire Analyst - Barry Norman's Articles