EUR/GBP Fundamental Analysis – August 17, 2015 – Forecast

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Published: Aug 14, 2015, 10:02 UTC

Analysis and Recommendations: The EUR/GBP was flat for the day after Eurozone inflation met expectations but German GDP missed forecast weighing on the

EUR/GBP Fundamental Analysis – August 17, 2015 – Forecast

Analysis and Recommendations:

The EUR/GBP was flat for the day after Eurozone inflation met expectations but German GDP missed forecast weighing on the euro as the pound sat tight moving to small losses as the US dollar gained. The pair is trading at 0.7140 and is expected to close the week at this level. The euro has climbed against the pound on the day in spite of some dark comments from former Greek Finance Minister Yanis Varoufakis. The ex-finance minister from Athens forecast that Tuesday’s bailout agreement between Greece and her creditors ‘is not going to work’. With Quantitative Easing continuing across the Eurozone, the outlook for the shared currency remains firmly negative.

Sterling fell to a one-month trough against a broadly stronger euro on Wednesday after data showed British wage growth slowed more than expected in June, taking some pressure off the Bank of England to raise interest rates.

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
EUR	German GDP (QoQ) (Q2)	0.4%	0.5%	0.3%
EUR	CPI (YoY) (Jul)	0.2%	0.2%	0.2%
USD	PPI (MoM) (Jul)		0.1%	0.4%

Upcoming Economic Events that you should be monitoring:

Monday, August 17, 2015

Cur.	Event	Actual	Forecast	Previous
JPY	GDP (QoQ) (Q2)		-0.5%	1.0%
JPY	GDP (YoY) (Q2)		-1.9%	3.9%
EUR	Trade Balance (Jun)			18.8B
USD	NY Empire State Manufacturing Index		5.00	3.86
CAD	Foreign Securities Purchases (Jun)			-5.45B