EUR/GBP Fundamental Analysis October 18, 2012 Forecast

Posted October 17, 2012 20:27 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/GBP Fundamental Analysis October 18, 2012 Forecast

Analysis and Recommendations:

The EUR/GBP added another 22pips to trade at 0.8124. In the UK unemployment surprised traders and tumbled from 8.1% to 7.9% while claimant count also fell well below forecast, giving a huge boost of strength to the pound. Unfortunately a very strong euro stopped limited gains, as the euro surged on a weakening dollar as traders moved into more risk assets, after the US housing data showed a vast improvement in housing starts and building permits.

A mixed reading of BoE minutes reduced the move of the pound leaving traders undecided if the BoE will opt for additional QE next month.

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 October 17, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Oct. 17

GBP

Average Earnings Index +Bonus

1.7%

1.6%

GBP

Claimant Count Change

-4.0K

-1.0K

-14.2K

USD

Building Permits

0.894M

0.810M

0.801M

USD

Housing Starts

0.872M

0.770M

0.758M

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 18	09:30	GBP	Retail Sales (MoM)	0.4%	-0.2%
	09:30	GBP	Retail Sales (YoY)	2.1%	2.7%

Government Bond Auction

Date Time Country

Oct 18 08:30 Spain

Oct 18 08:50 France

Oct 18 09:30 UK

Oct 18 09:50 France

Oct 18 14:30 Sweden

Oct 18 15:00 US

Oct 18 17:00 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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