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EUR/GBP Fundamental Analysis – August 5, 2015 – Forecast

By:
Barry Norman
Published: Aug 4, 2015, 10:16 UTC

Analysis and Recommendations: The EUR/GBP is flat at 0.7028 as both the currencies saw low level data but remained without direction today. The pound saw

EUR/GBP Fundamental Analysis – August 5, 2015 – Forecast

eurgbp tuesday bns
Analysis and Recommendations:

The EUR/GBP is flat at 0.7028 as both the currencies saw low level data but remained without direction today. The pound saw National Housing Prices which met expectation while the euro witnessed a decline in Spanish employment. The balancing factor was the drop in UK construction which kept the pound weak.

Strength in Britain’s construction industry slowed unexpectedly in July, hurt by a loss of momentum in housebuilding and civil engineering, according to a survey published on Tuesday that highlighted the economy’s reliance on its services sector.

The monthly Markit/CIPS UK construction purchasing managers’ index (PMI) fell to 57.1 after hitting a four-month high of 58.1 in June, confounding a Reuters poll estimate for a rise to 58.4.

The euro was under pressure Tuesday following a sell-off in New York as a plunge on the Greek stock market revived worries about Athens’ future in the eurozone.

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

 

Retail Sales (MoM) (Jun)

0.7%

0.5%

0.4%

   

  AUD

 

Trade Balance (Jun)

-2.933B

-3.100B

-2.677B

   

  AUD

 

Interest Rate Decision (Aug)

2.00%

2.00%

2.00%

 

 

  AUD

 

RBA Rate Statement  

 

 

 

 

 

  GBP

 

Nationwide HPI (YoY) (Jul)

3.5%

3.5%

3.3%

 

 

  GBP

 

Nationwide HPI (MoM) (Jul)

0.4%

0.4%

-0.2%

 

 

  EUR

 

Spanish Unemployment Change

-74.0K

-45.6K

-94.7K

 

 

  GBP

 

Construction PMI (Jul)

57.1

58.4

58.1

   

 

EURGBP(60 minutes)20150804062335

Upcoming Economic Events that you should be monitoring:

Wednesday, August 5, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

Services PMI (Jul)

 

58.0

58.5

 

 

  USD

 

ADP Nonfarm Employment Change

 

215K

237K

 

 

  USD

 

ISM Non-Manufacturing PMI (Jul)

 

56.2

56.0

   

Government Bond Auctions

Date Time Country

Aug 05 11:30 Germany Eur 4bn Oct 2020

Aug 05 11:30 Sweden Holds bond auction

Aug 06 10:30 Spain Auctions Bonos

Aug 06 11:10 France Auctions OATs

Aug 10 17:30 Italy Announces details of BTP/CCTeu on 13 Aug

Aug 11 11:30 UK Auctions 0.125% 2058 I/L Gilt

Aug 12 11:30 Germany Eur 4bn Aug 2025 Bund

Aug 13 11:10 Italy Auctions BTPs/CCTeus

 

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