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
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 |
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