Analysis and Recommendations: The GBP/USD fell today to trade at 1.6010 after the Bank of England yesterday held rates and policy. Today, industrial
The GBP/USD fell today to trade at 1.6010 after the Bank of England yesterday held rates and policy. Today, industrial production and manufacturing production both disappointed markets reporting well below forecast, casting a greater doubt on the UK economy. Just a few days ago, the UK downgraded growth for 2013 and Chancellor Osborne, presented the Autumn statement with a negative forecast.
The US dollar climbed after a strong jobs report today, supporting the overall US recovery. The FOMC will meet next week and today’s report will play an important role in their decision process.
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 December 7, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
Forecast |
Previous |
||
Dec. 07 |
|
AUD |
|
|
Trade Balance |
-2.09B |
-2.05B |
-1.42B |
||
|
|
GBP |
|
|
Industrial Production (MoM) |
-0.8% |
0.7% |
-2.1% |
||
|
|
GBP |
|
|
Manufacturing Production (MoM) |
-1.3% |
-0.2% |
0.1% |
||
|
|
GBP |
|
|
Industrial Production (YoY) |
-3.0% |
-0.6% |
-3.2% |
||
|
|
EUR |
|
|
ECB President Draghi Speaks |
|||||
|
|
EUR |
|
|
German Industrial Production (MoM) |
-2.6% |
-0.5% |
-1.3% |
||
|
|
USD |
|
|
Average Hourly Earnings (MoM) |
0.2% |
0.2% |
0.0% |
||
|
|
CAD |
|
|
Employment Change |
59.3K |
10.0K |
1.8K |
||
|
|
CAD |
|
|
Labor Productivity (QoQ) |
-0.5% |
-0.6% |
|||
|
|
USD |
|
|
Nonfarm Payrolls |
146K |
93K |
138K |
||
|
|
USD |
|
|
Unemployment Rate |
7.7% |
7.9% |
7.9% |
||
|
|
CAD |
|
|
Unemployment Rate |
7.2% |
7.0% |
7.4% |
||
|
|
USD |
|
|
Average Weekly Hours |
34.4 |
34.4 |
34.4 |
||
|
|
USD |
|
|
Private Nonfarm Payrolls |
147K |
95K |
189K |
||
|
|
USD |
|
|
Michigan Consumer Sentiment |
74.5 |
82.4 |
82.7 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
There are no top tier events schedule for Monday December 10, 2012 ahead of the FOMC two day meeting traders will be watching US lawmakers as the fiscal cliff comes closer.
Government Bond Auction
Date Time Country
Dec 10 10:10 Norway
Dec 10 10:10 Slovakia
Dec 10 15:30 UK
Dec 10 16:30 Italy
Dec 11 09:30 Spain
Dec 11 10:10 Greece
Dec 11 10:15 Austria
Dec 11 10:30 Belgium
Dec 11 10:30 UK
Dec 11 18:00 US
Dec 12 10:10 Italy
Dec 12 10:10 Sweden
Dec 12 10:30 Swiss
Dec 12 16:30 US
Dec 13 01:30 Japan
Dec 13 09:30 Spain
Dec 13 10:10 Italy
Dec 13 10:30 UK
Dec 13 16:00 US
Dec 13 18:00 US
Dec 14 11:00 Belgium
Dec 14 15:30 UK