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GBP/USD Fundamental Analysis December 11, 2012, Forecast
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Analysis and Recommendations: The GBP/USD climbed today to trade at 1.6087 on the weakness in the US dollar. There was no eco news or support for the
Analysis and Recommendations:
The GBP/USD climbed today to trade at 1.6087 on the weakness in the US dollar. There was no eco news or support for the pound whereas the dollar index declined as traders began to look at this week’s FOMC meet and the possibility of additional stimulus in the US. GBP has likely been a beneficiary of intra-European diversification flows as a result of the recent decline in the euro, with support helping to offset some of the weakness that would have been expected following last week’s domestic data. Investors remain bullish GBP according to the CFTC and hold a $2.7bn net long position
This weekend President Obama met with opposition leaders and they seemed to have reached some sort of acceptable groundwork for both parties. There was little in the way of press but markets got the feeling that the pair made headway in avoiding the US Fiscal Cliff.
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 9, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Dec. 09 |
|
CNY |
|
|
Chinese CPI (YoY) |
2.0% |
|
2.1% |
|
1.7% |
|
|
|
|
|
CNY |
|
|
Chinese PPI (YoY) |
-2.2% |
|
-2.0% |
|
-2.8% |
|
|
|
|
|
CNY |
|
|
Chinese CPI (MoM) |
0.1% |
|
0.2% |
|
-0.1% |
|
|
|
|
|
CNY |
|
|
Chinese Fixed Asset Investment (YoY) |
20.7% |
|
20.8% |
|
20.7% |
|
|
|
|
|
CNY |
|
|
Chinese Industrial Production (YoY) |
10.1% |
|
9.8% |
|
9.6% |
|
|
|
|
|
CNY |
|
|
Chinese Retail Sales (YoY) |
14.9% |
|
14.6% |
|
14.5% |
Economic Data December 10, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Dec. 10 |
|
AUD |
|
|
Home Loans (MoM) |
0.1% |
|
3.0% |
|
1.1% |
||
|
|
|
CNY |
|
|
Chinese Trade Balance |
19.60B |
|
25.70B |
|
32.00B |
|
|
|
|
|
DKK |
|
|
Danish CPI (YoY) |
2.30% |
|
|
|
2.30% |
|
|
|
|
|
NOK |
|
|
Norwegian Core Inflation (MoM) |
0.00% |
|
0.10% |
|
0.00% |
|
|
|
|
|
NOK |
|
|
Norwegian CPI (MoM) |
0.10% |
|
0.10% |
|
0.50% |
|
|
|
|
|
CAD |
|
|
Housing Starts |
|
|
201.0K |
|
204.1K |
|
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Dec. 11 |
00:01 |
GBP |
-7% |
-7% |
|
|
|
10:00 |
EUR |
-12.0 |
-15.7 |
|
|
|
13:30 |
USD |
-42.5B |
-41.6B |
|
|
Dec. 12 |
07:00 |
EUR |
-0.1% |
-0.1% |
|
|
|
07:00 |
EUR |
1.9% |
1.9% |
|
|
|
07:45 |
EUR |
|
0.1% |
|
|
|
09:30 |
GBP |
1.9% |
1.8% |
|
|
|
09:30 |
GBP |
7.0K |
10.1K |
|
|
|
10:00 |
EUR |
0.2% |
-2.5% |
|
|
|
13:30 |
USD |
-0.5% |
0.5% |
|
|
|
19:00 |
USD |
-147.5B |
-120.0B |
|
|
Dec. 13 |
08:15 |
CHF |
-0.3% |
-0.1% |
|
|
|
11:00 |
GBP |
-16 |
-21 |
|
|
Dec. 14 |
07:58 |
EUR |
45.0 |
44.5 |
|
|
|
08:28 |
EUR |
47.2 |
46.8 |
|
|
|
10:00 |
EUR |
2.2% |
2.2% |
|
|
|
10:00 |
EUR |
|
1.5% |
Government Bond Auction
Date Time Country
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
About the Author
Barry Normanauthor
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