GBP/USD Fundamental Analysis – November 27, 2015 -Forecast

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Published: Nov 26, 2015, 10:35 UTC

Analysis and Recommendations: The GBP/USD tumbled 52 points on a quiet trading day as speculators review George Osborne’s budget cuts and its effect on

GBP/USD Fundamental Analysis – November 27, 2015 -Forecast

Analysis and Recommendations:

The GBP/USD tumbled 52 points on a quiet trading day as speculators review George Osborne’s budget cuts and its effect on the UK economy. The pound is trading at 1.5074. U.K. mortgage approvals increased in October and gross mortgage lending reached a seven year high, the British Bankers’ Association said Wednesday. The number of mortgages approved in October rose to 45,437 from 44,825 in September. It was also below the expected level of 44,500.

Reflecting a jump in demand for transportation equipment, the US Commerce Department released a report on Wednesday showing that new orders for U.S. manufactured durable goods increased by much more than expected in the month of October. The Commerce Department said durable goods orders jumped by 3.0 percent in October after falling by a revised 0.8 percent in September. Economists had expected orders to increase by 1.5 percent compared to the 1.2 percent drop that had been reported for the previous month.

Most cross currencies are finding the strength in the US dollar impossible to fight as the dollar traded above the 100 level on Wednesday and US markets are on holiday today.

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. Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
	United States – Thanksgiving Day
NZD	Trade Balance (MoM) (Oct)	-963M	-937M	-1,222M
NZD	Trade Balance (YoY) (Oct)	-3,240M	-3,370M	-3,200M
AUD	Private New Capital Expenditure	-9.2%	-3.0%	-4.4%
EUR	GfK German Consumer Climate		9.2	9.4

Upcoming Economic Events that you should be monitoring:

Friday, November 27, 2015

Cur.	Event	Actual	Forecast	Previous
	United States – Day following Thanksgiving – Early close at 13:30
JPY	Household Spending (MoM) (Oct)		1.1%	-1.3%
JPY	Household Spending (YoY) (Oct)		0.1%	-0.4%
JPY	Jobs/applications ratio (Oct)		1.24	1.24
JPY	National Core CPI (YoY) (Oct)		-0.1%	-0.1%
JPY	Tokyo Core CPI (YoY) (Nov)		-0.1%	-0.2%
GBP	Nationwide HPI (MoM) (Nov)		0.5%	0.6%
GBP	Nationwide HPI (YoY) (Nov)		4.2%	3.9%
GBP	Business Investment (QoQ) (Q3)		1.5%	1.6%
GBP	GDP (YoY) (Q3)		2.3%	2.3%
GBP	GDP (QoQ) (Q3)		0.5%	0.5%