EUR/GBP Fundamental Analysis September 21, 2012, Forecast

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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 

 

-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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