GBP/USD Fundamental Analysis November 14, 2013 Forecast

Analysis and Recommendations:

The GBP/USD climbed 69 points to trade at 1.5973 after the Bank of England Inflation report and Jobs data. Jobs data printed much higher than expected with unemployment falling to 7.6%. The pound strengthened after the Bank of England improved its outlook for unemployment in its quarterly Inflation Report. The pound climbed versus all of its 16 major peers after reports showed joblessness, as measured by International Labour Organisation standards, fell to 7.6 percent in the three months through September. In its Inflation Report, the central bank said Britain’s economy is growing “robustly.” Policy makers have said they will increase the benchmark rate from a record-low 0.5 percent after unemployment falls to 7 percent. U.K. government bonds declined.

Unemployment is more likely than not to reach 7 percent in the third quarter of 2015, based on the path of interest rates projected by investors, the Bank of England said in its report today. It had previously estimated the level would be reached in 2016.Claims for unemployment benefit fell 41,700 last month, according to the ILO report, more than the 30,000 predicted by economists in a Bloomberg News survey. The pound has strengthened 3.5 percent in the past three months, the best performer among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The euro rose 1.2 percent and the dollar fell 0.1 percent.

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 November 13, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Nov 14 10:30 UK

Nov 14 16:00 US

Nov 14 18:00 US