EUR/GBP Fundamental Analysis September 21, 2012, Forecast

Posted September 20, 2012 16:00 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/GBP is trading at 0.7990 with the euro weakening this session. Poor PMI data along with worries about the overall EU debt crisis continued to bother traders today. Spain remains in the forefront of everyone’s mind, as markets wait for the inevitable.

But in the UK things were positive and rosy for a change with retail sales and CBI trends reporting above forecast.

The GBP was able to gather some momentum and push down the euro today.

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 20, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sep. 20

JPY

Trade Balance

-0.47T

-0.37T

CNY

Chinese HSBC Manufacturing PMI

47.80

47.60

EUR

French Manufacturing PMI

42.6

46.4

46.0

EUR

German Manufacturing PMI

47.3

45.3

44.7

EUR

Manufacturing PMI

46.0

45.4

45.1

GBP

Retail Sales (MoM)

-0.2%

-0.4%

0.3%

GBP

Retail Sales (YoY)

2.7%

2.7%

2.3%

GBP

CBI Industrial Trends Orders

-8

-15

-21

USD

Initial Jobless Claims

382K

375K

385K

USD

Continuing Jobless Claims

3272K

3300K

3304K

USD

Philadelphia Fed Manufacturing Index

-1.9

-4.0

-7.1

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

There are no top tier eco data releases due in Europe or the US on the 21st.

Government Bond Auction

Date Time Country

Sep 21 15:30 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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