EUR/GBP Fundamental Analysis September 17, 2012, Forecast
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Analysis and Recommendations:
The EUR/GBP added a few pips today, trading at 0.8076 as the euro continued its momentum upwards. The euro has kept its strength ever since the introduction of the Outright Monetary Transactions from the ECB, followed by the German Court ruling upholding the ESM and then on the back of the weakened USD after the FOMC introduced its new QE3 program.
There has been very little supportive data from the UK and the overall fundamentals although positive for the UK economy are weak.
This pair should sit quietly for the beginning of the week with little data and little risk outside of the EU Ministers meeting to discuss Greece and Spain.
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 14, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
Sep. 14 |
|
JPY |
|
|
Industrial Production (MoM) |
-1.0% |
|
-1.2% |
|
-1.2% |
|
|
|
EUR |
|
|
CPI (YoY) |
2.6% |
|
2.6% |
|
2.6% |
|
|
|
EUR |
|
|
Employment Change (QoQ) |
0.0% |
|
-0.2% |
|
-0.2% |
|
|
|
EUR |
|
|
Core CPI (YoY) |
1.5% |
|
1.7% |
|
1.7% |
|
|
|
USD |
|
|
Core CPI (MoM) |
0.1% |
|
0.2% |
|
0.1% |
|
|
|
USD |
|
|
Core Retail Sales (MoM) |
0.8% |
|
0.6% |
|
0.8% |
|
|
|
USD |
|
|
CPI (MoM) |
0.6% |
|
0.5% |
|
0.0% |
|
|
|
CAD |
|
|
Manufacturing Sales (MoM) |
-1.50% |
|
1.00% |
|
-0.80% |
|
|
|
USD |
|
|
Retail Sales (MoM) |
0.9% |
|
0.7% |
|
0.6% |
|
|
|
USD |
|
|
CPI (YoY) |
1.7% |
|
1.7% |
|
1.4% |
|
|
|
USD |
|
|
Core CPI (YoY) |
1.9% |
|
2.0% |
|
2.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
|
Event |
|
Forecast |
Previous |
|
Sep. 18 |
09:30 |
GBP |
|
|
|
2.6% |
|
|
|
09:30 |
GBP |
|
|
|
0.1% |
|
|
|
10:00 |
EUR |
|
|
-25.5 |
-25.5 |
Government Bond Auction
Date Time Country
Sep 17 09:10 Slovakia
Sep 17 10:00 Norway
Sep 18 08:30 Spain
Sep 18 09:10 Greece
Sep 18 09:30 Belgium
Sep 19 09:10 Sweden
Sep 19 09:30 Germany
Sep 19 09:30 Portugal
Sep 19 10:00 Norway
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