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EUR/GBP Fundamental Analysis – August 28, 2015 – Forecast

By:
Barry Norman
Published: Aug 27, 2015, 14:23 UTC

Analysis and Recommendations: The EUR/GBP dipped a few points but remained near flat today as both currencies were evenly matched with little economics

EUR/GBP Fundamental Analysis – August 28, 2015 – Forecast

eurgbp thursday bns
Analysis and Recommendations:

The EUR/GBP dipped a few points but remained near flat today as both currencies were evenly matched with little economics data as the focus remained on China. The pair is holding at 0.7312. With a semblance of calm returning to global financial markets, in part due to reassurances from influential Federal Reserve policymaker William Dudley that U.S. rates will stay lower for longer, sterling was outperforming low-yielding currencies like the euro and the safe-haven yen.

Both the euro and the yen were in vogue during the recent stock market selloff as investors bought back these currencies which they had sold earlier to fund investments in higher-yielding currencies.

The euro was also weighed down by comments from a senior European Central Bank official who left the door open for more easing. Peter Praet said on Wednesday the risk of the ECB missing its inflation target has increased due to commodity price falls and weakness in some overseas economies.

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

 

  AUD

 

Private New Capital Expenditure

-4.0%

-2.5%

-4.7%

   

  GBP

 

Nationwide HPI (MoM) (Aug)

0.3%

0.4%

0.4%

 

 

  GBP

 

Nationwide HPI (YoY) (Aug)

3.2%

3.1%

3.5%

 

 

  EUR

 

Spanish GDP (QoQ) (Q2)

1.0%

1.0%

1.0%

 

 

  RUB

 

Central Bank reserves (USD)

 

 

362.9B

   

 

eurgbp thur

Upcoming Economic Events that you should be monitoring:

Friday, August 28 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  JPY

 

Household Spending (YoY) (Jul)

 

1.3%

-2.0%

 

 

  JPY

 

Household Spending (MoM) (Jul)

 

2.2%

-3.0%

 

 

  JPY

 

National Core CPI (YoY) (Jul)

 

-0.2%

0.1%

 

 

  JPY

 

Tokyo Core CPI (YoY) (Aug)

 

-0.2%

-0.1%

 

 

  JPY

 

Retail Sales (YoY) (Jul)

 

1.1%

0.9%

 

 

  CHF

 

GDP (YoY) (Q2)

 

0.9%

1.1%

 

 

  CHF

 

GDP (QoQ) (Q2)

 

-0.1%

-0.2%

 

 

  EUR

 

Spanish CPI (YoY) (Aug)  

 

-0.1%

0.1%

 

 

  EUR

 

Spanish HICP (YoY) (Aug)  

 

-0.2%

0.0%

 

 

  GBP

 

Business Investment (QoQ)

 

1.7%

2.0%

 

 

  GBP

 

GDP (QoQ) (Q2)  

 

0.7%

0.7%

 

 

  EUR

 

German CPI (MoM) (Aug)  

 

-0.1%

0.2%

 

 

  USD

 

Core PCE Price Index (MoM) (Jul)

 

0.1%

0.1%

 

 

  USD

 

Goods Trade Balance (Jul)

 

 

-62.26B

 

 

  USD

 

Personal Spending (MoM) (Jul)

 

0.4%

0.2%

 

 

  CAD

 

RMPI (MoM) (Jul)

 

-4.0%

0.0%

 

 

  USD

 

Michigan Consumer Expectations

 

 

83.8

   

Government Bond Auctions

Date Time Country

Aug 26 11:10 Italy Eur 3bn 0.15% Aug 2017 CTZ

Aug 26 19:00 US Holds 2-year FRN note auction

Aug 26 12:05 Norway Holds bond auction

Aug 26 19:00 US Holds 5-year note auction

Aug 26 19:00 US Holds 2-year FRN auction

Aug 27 11:03 Sweden Sek 0.5bn 0.125% I/L Jun 2019, Sek 0.5bn 1% Jun 2025 bonds

Aug 27 19:00 US Holds 7-year note auction

Aug 28 11:10 Italy Auctions BTPs/CCTeus

Sep 01 11:15 Austria Holds RAGB bond sale

Sep 01 00:00 UK Announces details of 3.5% 2045 Gilt

Sep 02 11:03 Sweden Holds bond auction

Sep 02 11:30 Germany Eur 4bn 0.25% Oct 2020 Bobl

Sep 02 11:30 UK Auctions new Jan 2021 Gilt

Sep 03 10:30 Spain Auctions Bonos/Obligaciones

Sep 03 11:10 France Auctions OATs

Sep 03 00:00 US Announces details of 3yr note on 08 Sep,

 

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