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EUR/GBP Weekly Fundamental Analysis, April 13-17, 2015 – Forecast
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Weekly Analysis and Recommendations The EUR/GBP is trading at 72.49 ending the week within its current trading range as both currencies are trading with a
Weekly Analysis and Recommendations
The EUR/GBP is trading at 72.49 ending the week within its current trading range as both currencies are trading with a bearish bias. Greece’s creditors are determined to use their leverage to push through long delayed reforms that Prime Minister Alexis Tsipras’ leftist government is resisting on social grounds.
“The mood was better than last time, but the substance was as murky as ever,” another euro zone official said of Wednesday’s talks. There was a slight improvement in technical cooperation between Greece and the lenders, but little progress on the content of the reforms. German industrial output squeaked higher in February from the month before after a downward revision in January, supported by the production of capital goods and energy.
The UK trade deficit widened in February by more than expected, figures from the Office for National Statistics (ONS) show. The trade deficit in goods and services worsened to £2.86bn from £1.54bn in January, the ONS said. The deficit in goods was £10.34bn, up from £9.17bn in January, which was partly offset by a surplus of £7.5bn on services. Goods exports were £23.16bn, the lowest total since September 2010. That drop was largely thanks to weaker sales to the US.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic Events for the week that you should be monitoring
|
Time |
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
Monday, April 13, 2015 |
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|
CNY |
Trade Balance (Mar) |
|
45.35B |
60.60B |
|
|||
|
Tuesday, April 14, 2015 |
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|
|
GBP |
CPI (YoY) (Mar) |
|
|
|
|
||
|
|
USD |
Core Retail Sales (MoM) (Mar) |
|
0.6% |
-0.1% |
|
||
|
|
USD |
PPI (MoM) (Mar) |
|
0.2% |
-0.5% |
|
||
|
|
USD |
Retail Sales (MoM) (Mar) |
|
1.0% |
-0.6% |
|
||
|
Wednesday, April 15, 2015 |
||||||||
|
|
CNY |
GDP (QoQ) (Q1) |
|
1.4% |
1.5% |
|
||
|
|
CNY |
GDP (YoY) (Q1) |
|
7.0% |
7.3% |
|
||
|
|
CNY |
Industrial Production (YoY) |
|
6.9% |
6.8% |
|
||
|
|
EUR |
Interest Rate Decision (Apr) |
|
|
0.05% |
|
||
|
|
CAD |
Interest Rate Decision |
|
1.00% |
0.75% |
|
||
|
Thursday, April 16, 2015 |
||||||||
|
|
AUD |
Employment Change (Mar) |
|
15.0K |
15.6K |
|
||
|
|
USD |
Building Permits (Mar) |
|
1.080M |
1.102M |
|
||
|
|
USD |
Philadelphia Fed Mfg |
|
6.3 |
5.0 |
|
||
|
Friday, April 17, 2015 |
||||||||
|
|
GBP |
Claimant Count Change (Mar) |
|
-28.0K |
-31.0K |
|
||
|
|
EUR |
CPI (YoY) (Mar) |
|
-0.1% |
-0.1% |
|
||
|
|
USD |
Core CPI (MoM) (Mar) |
|
0.2% |
0.2% |
|
||
|
|
CAD |
Core CPI (MoM) (Mar) |
|
|
0.6% |
|
||
|
|
CAD |
Core Retail Sales (MoM) (Feb) |
|
1.0% |
-1.8% |
|
||
Upcoming Government Bond Auctions
Date Time Country
Apr 13- n/a Italy Auctions 8-year BTP Italia
Apr 13 09:10 Italy Auctions BTPs/CCTeus
Apr 15 09:30 Germany Eur 4bn Feb 2025 Bund
Apr 16 08:30 Spain Auctions Bonos/Obligaciones
Apr 16 09:10 France Auctions BTANs
Apr 16 09:10 Sweden Holds inflation-linked bond auction
Apr 16 10:10 France Auctions OATi
Apr 16 10:30 UK Inflation-linked Gilt auction
Apr 16 15:00 US Announces 5-yr TIPS sale
About the Author
Barry Normanauthor
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