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EUR/GBP Fundamental Analysis October 10, 2012 Forecast
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Analysis and Recommendations: The EUR/GBP fell today as a weakened GBP was able to remain stronger then the euro, as traders worried more and more over
The EUR/GBP fell today as a weakened GBP was able to remain stronger then the euro, as traders worried more and more over the ongoing, never ending debt crisis in Europe. The pair is trading at 0.8070. Manufacturing production tumbled in the UK today, with reports showing a -1.1% drop when markets were expecting a much small decline. There was no eurozone data today, but Greece and Spain continued to weigh on markets. After Mr. Draghi spoke today, markets took his support of Greece to say there were still problems as Mr. Draghi commended Greece on their efforts but said there was still a long way to go.
Yesterday, EU Ministers commented that Spain may not need a bailout, which upset markets and worried traders putting more pressure on the EUR
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.
Economic Data October 9, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Oct. 09 |
|
GBP |
|
|
RICS House Price Balance |
-15% |
|
-20% |
|
-18% |
||
|
|
|
JPY |
|
|
Adjusted Current Account |
0.72T |
|
0.52T |
|
0.34T |
|
|
|
|
|
AUD |
|
|
NAB Business Confidence |
0 |
|
|
|
-3 |
||
|
|
|
GBP |
|
|
Industrial Production (MoM) |
-0.5% |
|
-0.5% |
|
2.8% |
||
|
|
|
GBP |
|
|
Manufacturing Production (MoM) |
-1.1% |
|
-0.6% |
|
3.1% |
||
|
|
|
GBP |
|
|
Trade Balance |
-9.8B |
|
-8.5B |
|
-7.3B |
||
|
|
|
GBP |
|
|
Industrial Production (YoY) |
-1.2% |
|
-1.1% |
|
-0.8% |
|
|
|
|
|
CAD |
|
|
Housing Starts |
220.2K |
|
208.0K |
|
225.3K |
||
|
|
|
GBP |
|
|
NIESR GDP Estimate |
0.8% |
|
|
|
0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Oct. 11 |
07:00 |
EUR |
2.0% |
2.0% |
|
|
|
07:45 |
EUR |
0.7% |
||
|
Oct. 12 |
10:00 |
EUR |
-0.5% |
0.6% |
Government Bond Auction
Date Time Country
Oct 10 09:10 Italy
Oct 10 09:10 Sweden
Oct 10 09:30 Germany
Oct 10 09:30 Swiss
Oct 10 14:30 Sweden
Oct 10 17:00 US
Oct 11 09:10 Italy
Oct 11 09:10 Sweden
Oct 11 09:30 UK
Oct 11 15:00 US
Oct 11 17:00 US
Oct 12 09:30 Germany
Oct 12 10:00 Belgium
About the Author
Barry Normanauthor
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