GBP/USD Fundamental Analysis July 10, 2012, Forecast

Posted July 09, 2012 15:55 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The GBP/USD is slightly up for the day, trading at 1.552. This week’s movement will be partly driven by domestic factors, given releases of IP and trade, which are expected to be mixed as the trade deficit is forecast to have narrowed while IP is forecast to show further contraction. The BoE has embarked on further QE as a result of tepid growth, as both trade and investment have failed to provide adequate support.

Today’s main focus will remain the Eurogroup meetings and the USD could be quite volatile later in the session depending on the information releases, statements, press conferences and the ECB Presidents speech.

Fireworks should get started shortly.

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 for July 9, 2012 actual v. forecast

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