EUR/GBP Fundamental Analysis April 11, 2013 Forecast

Analysis and Recommendations:

The EUR/GBP is trading at 0.8548 adding 10 points as the pound losses momentum and the euro is flat on the day. There has been very little news flow and no data of consequence to support either cross. The Euro is halfway through its seventh day of beating the US Dollar, reaching a new monthly high of 1.3121 during the European session. There was no clear new driver for the Euro bullishness in today’s trading, and the rise may be a continuation of the rally that intensified with ECB President Draghi’s press conference last week, which helped the Euro rise on the noted lack of actionable dovishness.

In economic releases, France industrial production rose 0.7% and more than expected in February, while Italian and Spanish industrial production each fell more than expected in February.  There was little action for the pound drifting down a bit giving back some of yesterday’s gains.

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 April 11, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Apr 11 12:30 Japan

Apr 11 09:10 Italy

Apr 11 09:10 Sweden

Apr 11 11:00 Norway

Apr 11 15:00 US

Apr 11 17:00 US

Apr 12 10:30 Belgium