GBP/USD Fundamental Analysis July 12, 2012, Forecast

Posted July 11, 2012 15:48 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The GBP/USD is trading at 1.5563 adding a few pips, as the USD declined before the release of the FOMC minutes due late in the day. Market participants are hoping to get some clue to the thinking of the US FOMC, to predict what Chairman Bernanke will introduce at the next meeting. This past weekend, two member of the FOMC in public addresses said that they would vote in favor of additional monetary stimulus.

Also today, the US trade deficit shrunk as expected. The trade balance reported at -48.7B against expectations of -48.5B, having little effect on the currency.

In the UK there was no eco data today and little press to support the sterling.

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 11, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 11

AUD

RBA Assist Gov Lowe Speaks

KRW

South Korean Unemployment Rate

3.2%

3.2%

JPY

Tertiary Industry Activity Index (MoM)

0.7%

0.2%

-0.2%

AUD

Westpac Consumer Sentiment

3.70%

0.30%

AUD

Home Loans (MoM)

-1.2%

0.7%

0.5%

EUR

German CPI (MoM)

-0.1%

-0.1%

EUR

German CPI (YoY)

1.7%

1.7%

EUR

German 10-Year Bund Auction

1.310%

1.520%

CAD

Trade Balance

-0.8B

-1.0B

-0.6B

USD

Trade Balance

-48.7B

-48.5B

-50.6B

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

Date	Time	Currency	Event	Previous
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%
Jul 13	13:55	USD	Prelim UoM Consumer Sentiment	73.2

Government Bond Auctions

Date Time Country

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

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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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