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EUR/USD Fundamental Analysis – August 13, 2015 – Forecast

By:
Barry Norman
Updated: Aug 12, 2015, 12:45 UTC

Analysis and Recommendations: The EUR/USD skyrocketed today climbing 105 points to 1.1147 after a final agreement with Greece was reached and signed.

EUR/USD Fundamental Analysis – August 13, 2015 – Forecast

EUR/USD Fundamental Analysis – August 13, 2015 - Forecast
EUR/USD Fundamental Analysis – August 13, 2015 - Forecast
Analysis and Recommendations:

The EUR/USD skyrocketed today climbing 105 points to 1.1147 after a final agreement with Greece was reached and signed.  Greece and its international creditors have agreed on a new multi-billion euro bailout deal, Tuesday following continued talks, foreign media reports said.

“Greece and its international lenders were locked in talks overnight to seal a multibillion-euro bailout deal, racing against a countdown to European Central Bank (ECB) debt repayments falling due within days,” the report said.

The agreement will also keep the country in the Eurozone and avert bankruptcy.

With the deal Greece has agreed to the function of a new independent privatization fund, and how non-performing bank loans will be administered.

The report quoted, Greek finance minister Euclid Tsakalotos saying “two or three small details” were still pending in bailout negotiations.

The indebted country was hoping to wrap up a deal for 86 billion euros in fresh loans so it can get parliamentary and other approvals for aid to flow by August 20, when a 3.2 billion euro debt payment is due to the ECB.

The agreement would mark the end of a painful chapter of aid talks for Greece, which fought against the austerity terms demanded by creditors for much of the year before accepting a deal under the threat of being kicked out of the Eurozone.

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.

Today’s economic releases:

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

API Weekly Crude Oil Stock

-0.847M

-1.800M

-2.400M

 

 

  JPY

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  AUD

 

Westpac Consumer Sentiment (Aug)

7.8%

 

-3.2%

 

 

  AUD

 

Wage Price Index (QoQ) (Q2)

0.6%

0.6%

0.5%

 

 

  JPY

 

Industrial Production (MoM) (Jun)

1.1%

0.8%

0.8%

 

 

  JPY

 

Tertiary Industry Activity Index

0.3%

0.1%

-0.7%

 

 

  CNY

 

Fixed Asset Investment (YoY) (Jul)

11.2%

11.5%

11.4%

 

 

  CNY

 

Industrial Production (YoY) (Jul)

6.0%

6.6%

6.8%

 

 

  GBP

 

Average Earnings Index +Bonus (Jun)

2.4%

2.8%

3.2%

 

 

  GBP

 

Claimant Count Change (Jul)

-4.9K

1.5K

0.2K

   

  GBP

 

Unemployment Rate (Jun)

5.6%

5.6%

5.6%

 

 

  EUR

 

Industrial Production (MoM) (Jun)

-0.4%

-0.2%

-0.4%

   
                 

 

eurusd

Upcoming Economic Events that you should be monitoring:

Friday, August 14, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  NZD

 

Core Retail Sales (QoQ)

 

0.7%

2.9%

 

 

  EUR

 

German GDP (QoQ) (Q2)  

 

0.5%

0.3%

 

 

  EUR

 

Core CPI (YoY) (Jul)

 

1.0%

1.0%

 

 

  EUR

 

CPI (MoM) (Jul)

 

-0.6%

0.0%

 

 

  EUR

 

GDP (QoQ) (Q2)  

 

0.4%

0.4%

 

 

  USD

 

PPI (MoM) (Jul)

 

0.1%

0.4%

 

 

  CAD

 

Manufacturing Sales (MoM) (Jun)

 

2.1%

0.1%

 

 

  USD

 

Industrial Production (MoM) (Jul)

 

0.3%

0.3%

 

 

  USD

 

Michigan Consumer Sentiment (Aug)  

 

93.5

93.1

   

Government Bond Auctions

Date Time Country

Aug 13 11:10 Italy Auctions BTPs/CCTeus

Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz

Aug 19 11:03 Sweden Holds bond auction

Aug 20 10:30 Spain Auctions Bonos/Obligaciones

Aug 20 11:30 UK Auctions 4.25% 2036 Gilt

Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug

 

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