GBP/USD Fundamental Analysis July 11, 2012, Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The GBP/USD is trading at 1.5507 just about where it started the day. It was a positive day for the pound with good strong eco data, (see chart below) Industrial and Manufacturing production was reported well over forecast along with a drop in trade balance. The UK finally has some supportive data. Against the USD it was difficult to gain as the greenback remained strong today. Market sentiment was still to flights of safety and risk aversion as traders worried more and more about the global slowdown and the lack of progress in the EU.

With the US Fed more and more likely to add some stimulus in upcoming weeks, markets are keeping the USD strong.

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 July 10, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 10

 

GBP

 

 

 

RICS House Price Balance 

-22%

 

-16% 

 

-17% 

  

 

 

AUD

 

 

 

NAB Business Confidence 

-3

 

 

 

-2 

 

 

 

 

CNY

 

 

 

Chinese Trade Balance 

31.73B

 

21.00B 

 

18.70B 

 

 

 

 

DKK

 

 

 

Danish CPI (YoY) 

2.20%

 

2.20% 

 

2.10% 

 

 

 

 

NOK

 

 

 

Norwegian Core Inflation (MoM) 

-0.30%

 

0.10% 

 

0.40% 

 

 

 

 

NOK

 

 

 

Norwegian CPI (MoM) 

-0.50%

 

-0.10% 

 

0.00% 

 

 

 

 

GBP

 

 

 

Industrial Production (MoM) 

1.0%

 

-0.2% 

 

-0.4% 

  

 

 

GBP

 

 

 

Manufacturing Production (MoM) 

1.2%

 

0.1% 

 

-0.8% 

  

 

 

GBP

 

 

 

Trade Balance 

-8.4B

 

-9.0B 

 

-9.7B 

  

 

 

GBP

 

 

 

Industrial Production (YoY) 

-1.6%

 

-2.1% 

 

-2.0% 

  

 

 

CAD

 

 

 

Housing Starts 

222.7K

 

205.0K 

 

217.4K 

  

 

 

GBP

 

 

 

NIESR GDP Estimate 

-0.2%

 

 

 

0.1% 

  

 

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

Date

Time

Currency

 Event

Previous

Jul 11

12:30

USD

Trade Balance

-50.1B

14:30

USD

Crude Oil Inventories

-4.3M

Jul 12

9:00

EUR

Industrial Production m/m

-0.8%

12:30

USD

Unemployment Claims

 

12:30

USD

Import Prices m/m

-1.0%

18:00

USD

Federal Budget Balance

-124.6B

7:15

CHF

PPI m/m

-0.2%

Jul 13

12:30

USD

PPI m/m

-1.0%

13:55

USD

Prelim UoM Consumer Sentiment

73.2

Government Bond Auctions

Date  Time  Country 

Jul 11  09:30  Germany

Jul 11  09:30  Swiss

Jul 11  17:00  US

Jul 12  09:10  Italy

Jul 12  09:30  UK

Jul 12  15:00  US

Jul 12  17:00  US

Jul 13  09:10  Italy

Jul 13  10:00  Belgium 

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.