EUR/GBP Fundamental Analysis – November 16, 2015 – Forecast

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Published: Nov 13, 2015, 12:44 UTC

Analysis and Recommendations: The EUR/GBP dipped 13 points as the euro weakened after a lackluster GDP read today while the pound traded steady with no

EUR/GBP Fundamental Analysis – November 16, 2015 – Forecast

Analysis and Recommendations:

The EUR/GBP dipped 13 points as the euro weakened after a lackluster GDP read today while the pound traded steady with no economic data or news from the UK. The pair looks to close the week at 0.7090 near its lowest point in several months. Growth in the Eurozone slowed to 0.3 percent in the third quarter, compared with the previous quarter when it grew by 0.4 percent. Germany, the region’s largest economy, also slowed down to grow by 0.3 percent as falling exports weighed on economic growth.

Germany’s growth figure matched market expectations but was slower than the 0.4 percent expansion in the previous quarter, while the GDP for the 19-nation Eurozone was below market expectations of 0.4 percent. Growth in the 28-nation European Union held steady at 0.4 percent, according to official data.

In Germany, where the economy is driven by exports, higher spending by households and the government helped offset declines in foreign trade, the country’s official statistics agency said.

At a time when the UK government is attempting to negotiate looser ties with Brussels, Jens Weidmann, President of the Deutsche Bundesbank, and a member of the European Central Bank’s governing council, issued a set piece statement at a Paris university yesterday calling for a ‘comprehensive shift of sovereignty’ involving the introduction of a common fiscal authority for the euroland.

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
JPY	Industrial Production (MoM) (Sep)	1.1%	1.0%	1.0%
JPY	Tertiary Industry Activity Index (MoM)	-0.4%	0.2%	0.2%
EUR	German GDP (YoY) (Q3)	1.8%	1.8%	1.6%
EUR	German GDP (QoQ) (Q3)	0.3%	0.3%	0.4%
EUR	GDP (YoY) (Q3)	1.6%	1.7%	1.5%
EUR	GDP (QoQ) (Q3)	0.3%	0.4%	0.4%
EUR	Trade Balance (Sep)	20.5B	18.2B	11.2B
USD	Core PPI (MoM) (Oct)		0.1%	-0.3%
USD	Core Retail Sales (MoM) (Oct)		0.4%	-0.3%

Upcoming Economic Events that you should be monitoring:

Monday, November 16, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Retail Sales (QoQ) (Q3)			0.1%
JPY	GDP (QoQ) (Q3)		-0.1%	-0.3%
JPY	GDP (YoY) (Q3)		-0.2%	-1.2%
EUR	Core CPI (YoY) (Oct)			0.9%
EUR	CPI (YoY) (Oct)
EUR	CPI (MoM) (Oct)		0.1%	0.2%
USD	NY Empire State Manufacturing Index		-5.00	-11.36