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GBP/USD Fundamental Analysis December 5, 2012 Forecast

By:
Barry Norman
Updated: Aug 20, 2015, 23:00 UTC

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

GBP/USD Fundamental Analysis December 5, 2012 Forecast

GBP/USD Fundamental Analysis December 5, 2012 Forecast
GBP/USD Fundamental Analysis December 5, 2012 Forecast
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 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

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%

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

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