EUR/GBP Fundamental Analysis September 11, 2012, Forecast

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Analysis and Recommendations:

The EUR/GBP is trading at 0.7996 as the euro lost a bit of momentum. With the EURUSD trading above 1.28 traders were taking profits which weakened the euro. Also additional legal issues were raised in Germany in regards to the ESM and EFSF which is expected to receive the court ruling on the 12th.

Markets tuned into that bit of news which will greatly affect the currency and plans by the ECB if the ruling is against the ESM.

In the UK today there was no eco data but a surprising long list of positive reports printed last week which were overshadowed by the BoE and the ECB statements.

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 September 10, 2012 actual v. forecast

Date

Time

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Sep. 10

00:50

 

JPY

 

 

Adjusted Current Account 

0.34T

 

0.39T 

 

0.77T 

 

00:50

 

JPY

 

 

GDP (QoQ) 

0.2%

 

0.3% 

 

0.3% 

 

00:50

 

JPY

 

 

GDP Price Index (YoY) 

-0.9%

 

-1.1% 

 

-1.1% 

 

00:50

 

JPY

 

 

Bank Lending (YoY) 

0.9%

 

 

 

0.7% 

 

02:00

 

CNY

 

 

Chinese Trade Balance 

26.66B

 

19.80B 

 

25.10B 

 

02:00

 

CNY

 

 

Chinese Exports (YoY) 

2.70%

 

3.00% 

 

1.00% 

 

02:30

 

AUD

 

 

Home Loans (MoM) 

-1.0%

 

0.1% 

 

1.0% 

 

Chinese Economic Data released on September 9, 2012 actual v. forecast (this is important)

Sep. 09

02:30

 

CNY

 

 

Chinese CPI (YoY) 

2.0%

 

2.0% 

 

1.8% 

 

 

 

02:30

 

CNY

 

 

Chinese PPI (YoY) 

-3.5%

 

-3.3% 

 

-2.9% 

 

 

 

02:30

 

CNY

 

 

Chinese CPI (MoM) 

0.6%

 

0.5% 

 

0.1% 

 

 

 

06:30

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.2%

 

20.4% 

 

20.4% 

 

 

 

06:30

 

CNY

 

 

Chinese Industrial Production (YoY) 

8.9%

 

9.1% 

 

9.2% 

 

 

 

06:30

 

CNY

 

 

Chinese Retail Sales (YoY) 

13.2%

 

13.2% 

 

13.1% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Sep. 11

00:01

GBP

RICS House Price Balance 

 -22%

-24% 

 

09:30

GBP

Trade Balance 

 -9.0B

-10.1B 

 

13:30

USD

Trade Balance 

-44.7B 

-42.9B 

Government Bond Auction

Date Time Country 

Sep 11 00:30 Japan 

Sep 11 08:30 Holland 

Sep 11 09:10 Greece 

Sep 11 09:30 UK 

Sep 11 14:30 UK 

Sep 11 17:00 US 

Sep 12 09:10 Italy  

Sep 12 09:10 Sweden 

Sep 12 09:30 Germany 

Sep 12 09:30 Swiss 

Sep 12 14:30 Sweden 

Sep 12 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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