GBP/USD Fundamental Analysis October 24, 2012 Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here
GBP/USD Fundamental Analysis October 24, 2012 Forecast

GBP/USD Fundamental Analysis October 24, 2012 Forecast

Analysis and Recommendations:

The GBP/USD followed most European currencies giving way to the US dollar. The GBP is trading at 1.5929. The US dollar climbed in early trading on strong US economic outlook and on Moody’s downgrade of several Spanish regions.

GBPUSD has been trading within a relatively narrow range, close to its 50 day MA,  with movement driven by broader market sentiment in the absence of high level domestic data ahead of Thursday’s Q3 GDP release.   Mortgage approvals have come in better than expected, suggesting that the FLS is providing support to lending markets, and leaving market participants more confident with a view that the BoE remains on hold.

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 October 23, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 23

 

PLN

 

 

Polish Unemployment Rate 

12.40%

 

12.50%

 

12.40% 

 

 

GBP

 

 

BBA Mortgage Approvals 

31.2K

 

30.9K

 

30.7K 

 

 

CAD

 

 

Core Retail Sales (MoM) 

0.4%

 

0.2%

 

0.5% 

 

 

CAD

 

 

Retail Sales (MoM) 

0.3%

 

0.4%

 

0.7% 

 

 

CAD

 

 

Interest Rate Decision 

1.00%

 

1.00%

 

1.00% 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 24 

07:58

EUR

French Manufacturing PMI 

44.0

42.7 

 

08:28

EUR

German Manufacturing PMI 

48.0

47.4 

 

09:00

EUR

German Ifo Business Climate Index 

101.6

101.4 

 

09:00

EUR

German Current Assessment 

109.7

110.3 

 

09:00

EUR

German Business Expectations 

94.3

93.2 

 

11:00

GBP

CBI Industrial Trends Orders 

 

-8 

 

15:00

USD

New Home Sales

385K

373K

Oct.26 

07:00

EUR

GfK German Consumer Climate 

5.9

5.9 

 

08:00

CHF

KOF Leading Indicators 

1.67

1.67 

Government Bond Auction

Date Time Country 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 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.