GBP/USD Fundamental Analysis June 20, 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 gained on the USD at 1.5734 as the USD lost momentum. The Dollar Index fell to 81.61 as investors began to position themselves in front of tomorrows FOMC statement. There was a slew of data out in the UK, Core CPI and CPI all reporting well under forecast. The German ZEW as well as the European ZEW economic sentiment came in well below forecast, but markets ignored these reports and were more concerned with news flow and the upcoming FOMC decisions.

 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 June 19, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jun. 19

 

AUD

 

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

 

 

 

 

GBP

 

 

 

Core CPI (YoY) 

2.2%

 

2.3% 

 

2.1% 

 

 

 

 

GBP

 

 

 

CPI (YoY) 

2.8%

 

3.0% 

 

3.0% 

 

 

 

 

GBP

 

 

 

CPI (MoM) 

-0.1%

 

0.1% 

 

0.6% 

 

 

 

 

EUR

 

 

 

German ZEW Economic Sentiment 

-16.9

 

4.0 

 

10.8 

 

 

 

 

EUR

 

 

 

ZEW Economic Sentiment 

-20.1

 

-5.7 

 

-2.4 

 

 

 

 

USD

 

 

 

Building Permits 

0.780M

 

0.728M 

 

0.723M 

 

 

 

 

USD

 

 

 

Housing Starts 

0.708M

 

0.720M 

 

0.744M 

   

 

 

CAD

 

 

 

Wholesale Sales (MoM) 

1.5%

 

1.0% 

 

0.3% 

   

 

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

Date

Time

Currency

 Event

Forecast

Previous

Jun 20

6:00

EUR

German PPI m/m

 

0.2%

8:30

GBP

Claimant Count Change

 

-13.7K

8:30

GBP

MPC Meeting Minutes

0-0-9

0-0-9

8:30

GBP

Unemployment Rate

 

8.2%

9:00

CHF

ZEW Economic Expectations

 

-4.0

14:30

USD

Crude Oil Inventories

 

-0.2M

16:30

USD

FOMC Statement

   

16:30

USD

Federal Funds Rate

<0.25%

<0.25%

18:00

USD

FOMC Economic Projections

   

18:15

USD

FOMC Press Conference

   

Jun 21

6:00

CHF

Trade Balance

 

1.33B

7:00

EUR

French Flash Manufacturing PMI

 

44.7

7:00

EUR

French Flash Services PMI

 

45.1

7:15

CHF

Industrial Production q/q

 

7.9%

7:30

EUR

German Flash Manufacturing PMI

 

45.2

7:30

EUR

German Flash Services PMI

 

51.8

8:00

EUR

Current Account

 

9.1B

8:00

EUR

Flash Manufacturing PMI

 

45.1

8:00

EUR

Flash Services PMI

 

46.7

8:30

GBP

Retail Sales m/m

 

-2.3%

10:00

GBP

CBI Industrial Order Expectations

 

-17

12:30

USD

Unemployment Claims

 

386K

13:00

USD

Flash Manufacturing PMI

 

54.0

14:00

USD

Existing Home Sales

 

4.62M

14:00

USD

Philly Fed Manufacturing Index

 

-5.8

Jun 22

8:00

EUR

German Ifo Business Climate

 

106.9

All Day

EUR

ECOFIN Meetings

   

13:00

EUR

Belgium NBB Business Climate

 

-11.2

Upcoming Government Bond Auctions

Date Time Country 

Jun 20  09:10  Sweden

Jun 20  09:30  Germany

Jun 20  10:00  Norway

Jun 21  08:30  Spain

Jun 21  08:50  France

Jun 21  09:30  UK

Jun 21  09:50  France

Jun 21  15:00  US

Jun 21  17:00  US

Jun 22  15:30  Italy

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.