Analysis and Recommendations: The GBP/USD climbed today ahead of the Bank of England meeting set for Thursday. The pound climbed to trade above 1.61
The GBP/USD climbed today ahead of the Bank of England meeting set for Thursday. The pound climbed to trade above 1.61 current holding at 1.6108, having risen 0.2% from yesterday’s close, a mid-performer among the majors as it holds on to recent gains despite a decline in the construction PMI to 49.3 (50.5 exp; 50.9 prev). GBP has rallied 1.75% off its mid-November lows, as improvements in the European outlook and relative central bank policy have outweighed the impact of a shift away from the BoE’s on-hold bias toward possible easing and despite concerns about the UK’s AAA rating ahead of tomorrow’s autumn statement on the fiscal outlook.
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 4, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
Forecast |
Previous |
|
|
||
Dec. 04 |
|
AUD |
|
|
Building Approvals (MoM) |
-7.6% |
-2.0% |
9.5% |
||||
|
|
AUD |
|
|
Current Account |
-14.9B |
-14.8B |
-12.4B |
||||
|
|
AUD |
|
|
Interest Rate Decision |
3.00% |
3.00% |
3.25% |
|
|||
|
|
AUD |
|
|
RBA Rate Statement |
|
||||||
|
|
EUR |
|
|
Spanish Unemployment Change |
74.30K |
90.50K |
128.20K |
|
|||
|
|
BRL |
|
|
Brazilian Industrial Production (YoY) |
2.3% |
2.5% |
-3.6% |
||||
|
|
CAD |
|
|
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 05 |
10:00 |
EUR |
-0.1% |
-0.2% |
|
|
13:15 |
USD |
125K |
158K |
|
|
13:30 |
USD |
2.7% |
1.9% |
|
|
13:30 |
USD |
-0.9% |
-0.1% |
|
|
15:00 |
USD |
53.5 |
54.2 |
|
Dec. 06 |
08:15 |
CHF |
0.1% |
||
|
09:30 |
GBP |
-8.8B |
-8.4B |
|
|
10:00 |
EUR |
-0.1% |
-0.1% |
|
|
11:00 |
EUR |
0.9% |
-3.3% |
|
|
12:00 |
GBP |
0.50% |
0.50% |
|
|
12:00 |
GBP |
375B |
375B |
|
|
12:45 |
EUR |
0.75% |
0.75% |
|
Dec. 07 |
09:30 |
GBP |
0.7% |
-1.7% |
|
|
09:30 |
GBP |
-0.2% |
0.1% |
|
|
09:30 |
GBP |
-0.6% |
-2.6% |
|
|
11:00 |
EUR |
-0.5% |
-1.8% |
Government Bond Auction
Date Time Country
Dec 05 09:30 Spain
Dec 05 10:30 Germany
Dec 05 11:00 Norway
Dec 05 15:30 Sweden
Dec 06 01:30 Japan
Dec 06 09:50 France
Dec 06 16:00 US
Dec 07 16:30 Italy