GBP/USD Fundamental Analysis December 4, 2012, Forecast

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Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: The GBP/USD is trading at 1.6075 gaining a bit of momentum after UK PMI surprised traders reporting above forecast and above

GBP/USD Fundamental Analysis December 4, 2012, Forecast

Analysis and Recommendations:

The GBP/USD is trading at 1.6075 gaining a bit of momentum after UK PMI surprised traders reporting above forecast and above last month’s print also, showing a rebound in the UK. Traders have been unsure about the most recent GDP release as there hasn’t been much supporting data. Today’s release turned GBP traders to a positive note. The US dollar was also weak with traders worried about the US fiscal cliff. The dollar rebounded after a positive report of US ISM manufacturing. Traders are closely watching for signals from the Bank of England before this week’s meeting in hopes of additional stimulus. The BoE has released its first update on the Funding for Lending Scheme, highlighting a £0.5bn increase in net lending for the quarter ended September 30th.

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 3, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 03

AUD

Company Gross Operating Profits (QoQ)

-2.9%

-2.5%

-0.3%

AUD

Retail Sales (MoM)

0.0%

0.4%

0.5%

CNY

Chinese HSBC Manufacturing PMI

50.50

50.40

JPY

BoJ Governor Shirakawa Speaks

TRY

Turkish CPI (MoM)

0.38%

0.91%

1.96%

CHF

Retail Sales (YoY)

2.7%

4.1%

5.4%

CHF

SVME PMI

48.5

47.0

46.1

EUR

Italian Manufacturing PMI

45.10

45.90

45.50

EUR

French Manufacturing PMI

44.5

44.7

EUR

German Manufacturing PMI

46.8

46.8

EUR

Manufacturing PMI

46.2

46.2

GBP

Manufacturing PMI

49.1

48.1

47.3

USD

ISM Manufacturing Index

52.80

51.3

51.7

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date	Time	Currency	Event	Forecast	Previous
Dec. 05	10:00	EUR	Retail Sales (MoM)	-0.1%	-0.2%
	13:15	USD	ADP Nonfarm Employment Change	125K	158K
	13:30	USD	Nonfarm Productivity (QoQ)	2.7%	1.9%
	13:30	USD	Unit Labor Costs (QoQ)	-0.9%	-0.1%
	15:00	USD	ISM Non-Manufacturing Index	53.5	54.2
Dec. 06	08:15	CHF	CPI (MoM)		0.1%
	09:30	GBP	Trade Balance	-8.8B	-8.4B
	10:00	EUR	GDP (QoQ)	-0.1%	-0.1%
	11:00	EUR	German Factory Orders (MoM)	0.9%	-3.3%
	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:00	GBP	BOE QE Total	375B	375B
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Dec. 07	09:30	GBP	Industrial Production (MoM)	0.7%	-1.7%
	09:30	GBP	Manufacturing Production (MoM)	-0.2%	0.1%
	09:30	GBP	Industrial Production (YoY)	-0.6%	-2.6%
	11:00	EUR	German Industrial Production (MoM)	-0.5%	-1.8%