EUR/GBP Fundamental Analysis – November 3, 2015 – Forecast

Analysis and Recommendations:

The EUR/GBP dipped 21 points as the pound saw a stronger rally with both currencies trading in the green after strong manufacturing PMI from both countries. The pair is trading at 0.7115. The final Markit Eurozone Manufacturing PMI came in at 52.3 in October of 2015, compared to a preliminary figure of 52 and higher than September’s five-month low of 52. Growth in the manufacturing sector was recorded in most nations with Germany increasing more than initially estimated while the contraction in Greece slowed. Manufacturing PMI in the Euro Area averaged 49.83 from 2007 until 2015, reaching an all-time high of 59 in February of 2011 and a record low of 33.50 in February of 2009. Manufacturing PMI in the Euro Area is reported by Markit Economics.

On the other side, U.K. manufacturing growth unexpectedly accelerated to the fastest in 16 months in October as new orders surged. In a monthly report published in London, Markit Economics said factories bucked this year’s downward trend and started the fourth quarter of the year on a stronger footing. The manufacturing index rose to 55.5 from a revised 51.8 in September, beating economists’ forecast for a reading of 51.3.

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:

Tuesday, November 3, 2015

Government Bond Auctions

Date Time Country

Nov 03 10:10 Austria Holds RAGB bond sale

Nov 04 15:30 Sweden Announces details of Bond on 11 Nov

Nov 04 N/A Holland Announces details of Bond on 10 Nov

Nov 05 09:30 Spain Auctions Bonos

Nov 05 09:50 France Auctions OATs

Nov 05 10:03 Sweden Holds I/L bond auction