Advertisement
Advertisement

EUR/GBP Fundamental Forecast – April 27, 2016

By:
Barry Norman
Published: Apr 26, 2016, 11:06 UTC

The EUR/GBP eased by 27 points as the pound rallied today with the June 23rd referendum polls showing the UK remaining in the Eurozone speculators seemed

EUR/GBP Fundamental Forecast – April 27, 2016

The EUR/GBP eased by 27 points as the pound rallied today with the June 23rd referendum polls showing the UK remaining in the Eurozone speculators seemed to breathe a sigh of relief. Currency News said that the Pound steadily reversed the Euro’s attempts to rally later in Monday’s session as the poor German IFO scores entrenched themselves and new ‘Remain’ campaign statements further increased bets that a ‘Brexit’ would not occur in June.

Britain’s Home Secretary Theresa May spoke around midday, arguing of the importance for the UK to remain in the European Union and change it from the inside. The BBC reports;

‘While “the sky would not fall” in the event of Brexit, she said she had concluded it was a matter of “hard-headed national interest” to remain in, based on security, trade and prosperity.

The Euro to Pound Sterling (EUR/GBP) exchange rate endured its second consecutive week of losses last week as a new series of polls and political sentiment indicated increasing favor towards the ‘Remain’ campaign ahead of the EU referendum and poor data throttled the Euro. (Currency News)

FxEmpire provides in-depth analysis for each asset 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, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.

Today’s economic releases:

Cur. Event Actual Forecast Previous
  USD Core Durable Goods Orders (MoM)   0.5% -1.3%  
  USD Durable Goods Orders (MoM) (Mar)   1.8% -3.0%  
  USD S&P/CS HPI Composite – 20 n.s.a.   5.5% 5.7%  
  USD Services PMI (Apr)     51.3  
  USD CB Consumer Confidence (Apr)   96.0 96.2

 

eurgbp

Upcoming Economic Events that you should be monitoring:

Wednesday, April 27, 2016

Cur. Event Actual Forecast Previous
  USD API Weekly Crude Oil Stock     3.100M  
  NZD Trade Balance (MoM) (Mar)   405M 339M  
  AUD CPI (QoQ) (Q1)   0.3% 0.4%  
  EUR GfK German Consumer Climate (May)   9.4 9.4  
  GBP GDP (QoQ) (Q1)   0.4% 0.6%  
  GBP GDP (YoY) (Q1)   2.0% 2.1%  
  USD Goods Trade Balance (Mar)   -62.50B -62.86B  
  USD Pending Home Sales (MoM) (Mar)   0.5% 3.5%  
  USD Crude Oil Inventories     2.080M  
  USD Fed Interest Rate Decision   0.50% 0.50%

Government Bond Auctions

Date Time       Country           Auction

Apr 26 11:10 Italy Holds BTP€i auction

Apr 26 19:00 US Holds 2-year note auction

Apr 27 11:03 Sweden Holds bond auction

Apr 27 11:10 Italy Holds CTZ auction

Apr 27 11:30 Germany Eur 1bn 2.5% Aug 2046 Bund

Apr 27 19:00 US 2-year FRN, 5-year note auctions

Apr 28 11:10 Italy Holds 5yr/10yr bond auctions

Apr 28 19:00 US Holds 7-year note auction

 

About the Author

Did you find this article useful?

Advertisement