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GBP/USD Fundamental Analysis February 7, 2013, Forecast
By:
Analysis and Recommendations: The GBP/USD is trading flat this afternoon after gaining in early trading today. The pound is trading at 1.5650 after
The GBP/USD is trading flat this afternoon after gaining in early trading today. The pound is trading at 1.5650 after reaching a 5 month low yesterday. However it has failed to retrace yesterday’s losses and appears instead to be entering a brief period of rest. The shift higher in GBP is on the back of rising risks over tomorrow’s appearance by Mark Carney. The market will be watching closely for his commitment to nominal GDP targeting and his views on QE. The Bank of England will meet tomorrow and it is expected to hold rates and policy, but the UK is also facing a great deal of data tomorrow including trade balance, industrial and manufacturing production numbers, which could weigh heavily on the currency. The UK economy has not been printing well in data reports lately with the exception of yesterdays PMI.
The US dollar is trading on a positive note gaining against the euro and most of its crosses as the US recovery seems on course once again, although markets are stressed over the unresolved debt ceiling and budget cuts.
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 February 6, 2013 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Feb. 06 |
|
AUD |
|
|
Retail Sales (MoM) |
-0.2% |
|
0.3% |
|
-0.2% |
||
|
|
|
GBP |
|
|
Halifax House Price Index (MoM) |
-0.2% |
|
-0.2% |
|
1.0% |
||
|
|
|
EUR |
|
|
German Factory Orders (MoM) |
0.8% |
|
0.9% |
|
-1.8% |
|
|
|
|
|
PLN |
|
|
Polish Interest Rate Decision |
3.75% |
|
3.75% |
|
4.00% |
|
|
|
|
|
CAD |
|
|
Ivey PMI |
|
|
54.0 |
|
52.8 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Feb. 07 |
06:45 |
CHF |
-14 |
-17 |
|
|
|
09:30 |
GBP |
0.9% |
0.3% |
|
|
|
09:30 |
GBP |
0.8% |
-0.3% |
|
|
|
09:30 |
GBP |
-8.9B |
-9.2B |
|
|
|
09:30 |
GBP |
-2.1% |
-2.4% |
|
|
|
11:00 |
EUR |
0.2% |
0.2% |
|
|
|
12:00 |
GBP |
0.50% |
0.50% |
|
|
|
12:00 |
GBP |
375B |
375B |
|
|
|
12:45 |
EUR |
0.75% |
0.75% |
|
|
|
13:30 |
USD |
-1.3% |
2.9% |
|
|
|
13:30 |
USD |
360K |
368K |
|
|
|
13:30 |
USD |
3.0% |
-1.9% |
|
|
|
13:30 |
USD |
3195K |
3197K |
|
|
|
15:00 |
GBP |
|
-0.3% |
Upcoming Government Bond
Date Time Country
Feb 07 09:30 Spain
Feb 07 12:00 Norway
Feb 07 15:30 Sweden
Feb 07 09:50 France
Feb 07 16:30 Italy
Feb 08 11:30 Belgium
Feb 08 16:30 Italy
Feb 11 10:30 Germany
Feb 12 09:10 Holland
Feb 12 09:30 Spain
Feb 12 10:10 Italy
Feb 12 10:10 Norway
Feb 12 10:30 Belgium
Feb 12 15:30 UK
Feb 12 18:00 US
Feb 13 01:30 Japan
Feb 13 10:10 Italy
Feb 13 10:30 Germany
Feb 13 15:30 Sweden
Feb 13 18:00 US
Feb 14 10:10 Sweden
Feb 14 10:30 UK
Feb 14 16:00 US
Feb 14 18:00 US
About the Author
Barry Normanauthor
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