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EUR/GBP Fundamental Analysis September 28, 2012 Forecast
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Analysis and Recommendations: The EUR/GBP is trading at 0.7948 its lowest in three weeks, dragged down before Spain presents its 2013 budget and by
Analysis and Recommendations:
The EUR/GBP is trading at 0.7948 its lowest in three weeks, dragged down before Spain presents its 2013 budget and by uncertainty over whether the country will request a bailout.
Data showing the UK economy shrank by slightly less than previously thought in the second quarter also helped the pound, as well as talk that EU farm subsidy payment to the UK due this week will lift sterling against the euro.
The euro fell around 0.5 percent to 79.245 pence, marking its weakest since September 6.
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 September 27, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 27 |
|
DKK |
|
|
Danish Unemployment Rate |
4.70% |
|
4.70% |
|
4.70% |
|
|
|
|
|
EUR |
|
|
German Unemployment Rate |
6.8% |
|
6.8% |
|
6.8% |
|
|
|
|
|
EUR |
|
|
German Unemployment Change |
9K |
|
10K |
|
11K |
||
|
|
|
GBP |
|
|
Business Investment (QoQ) |
0.9% |
|
-1.5% |
|
-1.5% |
|
|
|
|
|
GBP |
|
|
Current Account |
-20.8B |
|
-12.4B |
|
-15.4B |
||
|
|
|
GBP |
|
|
GDP (QoQ) |
-0.4% |
|
-0.5% |
|
-0.5% |
|
|
|
|
|
GBP |
|
|
GDP (YoY) |
-0.5% |
|
-0.5% |
|
-0.5% |
|
|
|
|
|
EUR |
|
|
Italian 10-Year BTP Auction |
5.24% |
|
|
|
5.82% |
|
|
|
|
|
USD |
|
|
Core Durable Goods Orders (MoM) |
-1.6% |
|
0.3% |
|
-1.3% |
||
|
|
|
USD |
|
|
Durable Goods Orders (MoM) |
-13.2% |
|
-5.0% |
|
3.3% |
||
|
|
|
USD |
|
|
Initial Jobless Claims |
359K |
|
378K |
|
385K |
||
|
|
|
USD |
|
|
GDP (QoQ) |
1.3% |
|
1.7% |
|
1.7% |
|
|
|
|
|
USD |
|
|
Continuing Jobless Claims |
3271K |
|
3285K |
|
3275K |
||
|
|
|
USD |
|
|
Pending Home Sales (MoM) |
-2.6% |
|
-0.7% |
|
2.6% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Sep. 28 |
06:30 |
EUR |
0.0% |
0.0% |
|
|
|
07:45 |
EUR |
-0.1% |
0.1% |
|
|
|
08:00 |
CHF |
1.57 |
1.57 |
|
|
|
10:00 |
EUR |
2.4% |
2.6% |
|
|
|
13:30 |
USD |
0.1% |
0.0% |
|
|
|
13:30 |
USD |
0.5% |
0.4% |
|
|
|
14:45 |
USD |
52.9 |
53.0 |
|
|
|
14:55 |
USD |
78.9 |
79.2 |
Government Bond Auction
Date Time Country
Oct 01 10:00 Norway
Oct 02 09:15 Austria
Oct 02 09:30 Belgium
Oct 02 09:30 UK
Oct 02 14:30 UK
Oct 03 09:10 Sweden
Oct 03 10:00 Norway
Oct 04 08:30 Spain
Oct 04 08:50 France
Oct 04 15:00 US
Oct 05 15:30 Italy
About the Author
Barry Normanauthor
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