EUR/GBP Fundamental Analysis October 19, 2012 Forecast

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EUR/GBP Fundamental Analysis October 19, 2012 Forecast

EUR/GBP Fundamental Analysis October 19, 2012 Forecast

Analysis and Recommendations:

The EUR/GBP  is trading at 0.8119 flat from yesterday. As investors await news from the EU Summit, the euro has held pretty steady, dipping just a few pips against the greenback. In the UK today, retail sales reported above forecast giving a bit of strength to the pound, keeping it on even keel with the euro.

The main event and focus of investors is the EU Summit, but it is the news, speeches, statements and interviews that will drive the markets over the next two days. There is a lot of pressure and expectations although traders truly do not hope for any resolve from the EU Summit, but Greece and Spain will remain the highlights.

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 18, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 18

 

AUD

 

 

NAB Quarterly Business Confidence 

-2.00

 

 

 

-2.00 

 

 

 

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.5%

 

20.2% 

 

20.2% 

 

 

 

 

CNY

 

 

Chinese GDP (YoY) 

7.4%

 

7.4% 

 

7.6% 

 

 

 

 

CNY

 

 

Chinese Industrial Production (YoY) 

9.2%

 

9.0% 

 

8.9% 

 

 

 

 

CNY

 

 

Chinese Retail Sales (YoY) 

14.2%

 

13.2% 

 

13.2% 

 

 

 

 

GBP

 

 

Retail Sales (MoM) 

0.6%

 

0.4% 

 

-0.1% 

   

 

 

GBP

 

 

Retail Sales (YoY) 

2.5%

 

2.1% 

 

2.5% 

   

 

 

EUR

 

 

Spanish 10-Year Obligacion Auction 

5.458%

 

 

 

5.666% 

 

 

 

 

USD

 

 

Initial Jobless Claims 

388K

 

365K 

 

342K 

   

 

 

CAD

 

 

Wholesale Sales (MoM) 

0.5%

 

0.2% 

 

-0.7% 

   

 

 

USD

 

 

Continuing Jobless Claims 

3252K

 

3275K 

 

3281K 

   

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 19 

15:00

USD

Existing Home Sales 

4.73M 

4.82M 

Government Bond Auction

Date Time Country 

Oct 21 10:30 Portugal 

Oct 22 09:10 Norway 

Oct 23 08:30 Spain 

Oct 23 14:30 UK 

Oct 23 17:00 US 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 Italy

 

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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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