EUR/GBP Fundamental Analysis September 4, 2013 Forecast

Analysis and Recommendations:

The EUR/GBP   is trading at 0.8468 down by 20 points after UK construction PMI reported way above forecast.   The pound rose for a fifth day versus the euro as a report showed a gauge of U.K. construction based on a survey of purchasing managers increased for a fourth month in August, reaching the highest in almost six years. Sterling touched a three-month high versus the common currency before Bank of England policy makers meet this week. U.K. construction activity climbed to 59.1 last month from 57 in July, Markit Economics and the Chartered Institute of Purchasing and Supply said. The median estimate in a Bloomberg News survey was 56.9. The pound also rose as Verizon Communications Inc. agreed to buy Vodafone Group Plc (VOD)’s 45 percent stake in Verizon Wireless for $130 billion. As traders return from the long holiday weekend, Syria remains a distant past with congress in recess until September 9^th, traders are now focusing on the nonfarm payroll report due on Friday after the Bank of England and ECB meetings on Thursday.

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 3, 2013 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auction

Date Time Country 

Sep 04 09:10 Sweden

Sep 04 09:30 Germany

Sep 05 08:30 Spain

Sep 05 08:50 France

Sep 05 15:00 US

Sep 06 15:30 Italy