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

 

CPI (YoY) 

 

 

2.6% 

 

09:30

GBP

 

CPI (MoM) 

 

 

0.1% 

 

10:00

EUR

 

German ZEW Economic Sentiment 

 

-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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About: FX Empire Analyst - Barry Norman

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