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EUR/GBP Weekly Fundamental Analysis, October 27-31, 2014, Forecast

By:
Barry Norman
Updated: Aug 25, 2015, 03:00 UTC

Weekly Analysis and Recommendations The EUR/GBP will open the new week at 0.7876 as the pound remained weak after retail sales tumbled and the euro

EUR/GBP Weekly Fundamental Analysis, October 27-31, 2014, Forecast

EUR/GBP Weekly Fundamental Analysis, October 27-31, 2014, Forecast
EUR/GBP Weekly Fundamental Analysis, October 27-31, 2014, Forecast
Weekly Analysis and Recommendations

The EUR/GBP will open the new week at 0.7876 as the pound remained weak after retail sales tumbled and the euro rebounded for no specific reason ahead of the ECB stress test results due on Sunday. he results of the ECB’s check-up on banks will be made official on Sunday. 105 banks passed the test, while 25 banks are said to fall short of ECB standards, Bloomberg reports.

Meanwhile, sluggish earnings results from some of Europe’s key companies are also raising fears about the health of the global economy.

News of another high-profile Ebola case in the US also had investors on edge today, while relatively upbeat German consumer confidence figures were brushed aside.

In economic news, German consumer climate for November improved unexpectedly, survey data revealed. The forward-looking consumer confidence index rose slightly to 8.5 in November from 8.4 in October, market research group GfK said. The score was forecast to fall to 8.

The UK economy grew at a slower pace in the third quarter, preliminary estimates from the Office for National Statistics Office showed. Gross domestic product climbed 0.7% from the second quarter, when it grew 0.9%.

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.

Historical: From 2011 to Present

Highest: 0.9084 EUR on Jul 01, 2011

Average: 0.8351 EUR over this period.

Lowest: 0.7758 EUR on July 22, 2012

 

EURGBP(15 minutes)20141025180502

Major Economic Events for the week of October 27-31st

Time

Cur.

Imp.

Event

Actual

Forecast

Previous

Monday, October 27

 

 

Holiday

New Zealand – Labour Day

 

  EUR

 

German Ifo Business Climate Index (Oct)

 

104.3

104.7

 

 

  USD

 

Pending Home Sales (MoM) (Sep)

 

0.5%

-1.0%

 

Tuesday, October 28

 

  USD

 

Core Durable Goods Orders (MoM) (Sep)

 

0.5%

0.4%

 

 

  USD

 

CB Consumer Confidence (Oct)

 

87.0

86.0

 

Wednesday, October 29

 

  NZD

 

Interest Rate Decision 

 

3.50%

3.50%

 

Thursday, October 30

 

  EUR

 

German Unemployment Change (Oct)

 

5K

13K

 

 

  USD

 

GDP (QoQ) (Q3)

 

3.0%

4.6%

 

Friday, October 31

 

  EUR

 

CPI (YoY) (Oct)

 

0.4%

0.3%

 

 

  CAD

 

GDP (MoM) (Aug)

 

 

 

 

 

Upcoming Government Bond Auctions

Date Time Country 

Oct 27 12:30 Germany Eur 2.0bn new 12M Bubill (Oct 2015) auction

Oct 27 18:30 Italy Announces details of BTP/CCTeu auctions on Oct 30

Oct 27 12:10 Italy BTPei/CTZ auctions

Oct 28 12:10 Italy BOT auction

Oct 28 19:00 US 2Y Note auction

Oct 29 12:03 Sweden Bond auction

Oct 29 12:30 Germany Eur 4.0bn Aug 2024 Bund auction

Oct 29 17:30 US 2Y FRN auction

Oct 29 19:00 US 5Y Note auction

Oct 30 12:10 Italy BTP/CCTeu auctions

Oct 30 19:00 US 7Y Note auction

 

 

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