EUR/GBP Fundamental Analysis – August 20, 2015 – Forecast

Analysis and Recommendations:

The EUR/GBP added 11 points as both currencies traded in the green but the euro outpaced the pound on shifts in sentiment, but there was no data to support today’s moves. The pair is trading at 0.7054. With easing tensions regarding Greece’s ability to pay the European Central Bank (ECB) on August 20th, the single currency strengthened versus many of its peers. The uptrend has been relatively sluggish, however, given that many Euro-area nations have yet to approve the terms for the latest bailout package. Also aiding the shared currency uptrend was Eurozone Trade Balance which saw the surplus rise in June.

The pound strengthened following hawkish comments from Bank of England (BoE) policymaker Kristin Forbes, the Pound lost gains as the European session progressed. Forbes suggested that holding the current record-low interest rate would be detrimental to the UK’s economic recovery.

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:

 

Upcoming Economic Events that you should be monitoring:

Thursday August 20, 2015

Government Bond Auctions

Date Time Country

Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz

Aug 19 11:03 Sweden Holds bond auction

Aug 20 10:30 Spain Auctions Bonos/Obligaciones

Aug 20 11:30 UK Auctions 4.25% 2036 Gilt

Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug