EUR/GBP Fundamental Analysis October 22, 2012 Forecast

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EUR/GBP Fundamental Analysis October 22, 2012 Forecast

EUR/GBP Fundamental Analysis October 22, 2012 Forecast

Analysis and Recommendations:

The EUR/GBP closed the week flat at 0.8138.  The pound held close to a four-month low against the euro and inched up against the dollar on Friday helped by better-than- expected UK public borrowing numbers. While the data assuaged immediate worries about the UK’s fiscal situation, concerns about further monetary easing by the Bank of England are likely to limit gains in the pound.

Public sector borrowing figures showed the UK’s budget deficit widened less than expected, offering some hope that Chancellor George Osborne can meet his budget goals. Before the release some analysts had said weaker numbers would put the focus on the UK’s precarious fiscal situation, with its top-notch AAA credit rating under pressure.

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 19, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 19

 

JPY

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

 

 

CAD

 

 

Core CPI (MoM) 

0.2%

 

0.4% 

 

0.3% 

 

 

 

 

CAD

 

 

CPI (MoM) 

0.2%

 

0.3% 

 

0.2% 

 

 

 

 

CAD

 

 

CPI (YoY) 

1.2%

 

1.0% 

 

1.2% 

 

 

 

 

USD

 

 

Existing Home Sales 

4.75M

 

4.75M 

 

4.83M 

   

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 24

07:58

EUR

French Manufacturing PMI 

 

42.7 

 

08:28

EUR

German Manufacturing PMI 

 

47.4 

 

09:00

EUR

German Ifo Business Climate Index 

101.0 

101.4 

 

09:00

EUR

German Current Assessment 

 

110.3 

 

09:00

EUR

German Business Expectations 

 

93.2 

 

11:00

GBP

CBI Industrial Trends Orders 

 

-8 

Government Bond Auction

Date Time Country 

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

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