Analysis and Recommendations: The GBP/USD held on the positive side with little gains to trade at 1.5218 as the US dollar eased ahead of housing data and
The GBP/USD held on the positive side with little gains to trade at 1.5218 as the US dollar eased ahead of housing data and the FOMC minutes due late in the day. Bank of England policymaker Broadbent cautioned investors not to put too much faith in financial market bets on when the bank will raise interest rates, which currently point to a first increase in more than a year’s time.
Deputy Governor Ben Broadbent, speaking at a Reuter’s event on Wednesday, said market pricing for when record-low rates would finally start to rise risked changing fast, and that analysts should not “focus obsessively” on the BoE’s forecasts.
Instead, investors would do better to study fundamental factors driving the economy, he said in a speech.
Britain’s economy has grown more quickly than almost any other in the developed world over the past two years but inflation remains below zero and wage growth, while rising, is weaker than before the financial crisis.
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.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
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USD |
FOMC Member Tarullo Speaks |
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USD |
API Weekly Crude Oil |
-0.482M |
1.800M |
6.300M |
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AUD |
RBA Assist Gov Debelle Speaks |
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AUD |
Wage Price Index (QoQ) (Q3) |
0.6% |
0.6% |
0.6% |
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USD |
FOMC Member Lockhart Speaks |
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Upcoming Economic Events that you should be monitoring:
Thursday, November 19, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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NZD |
PPI Input (QoQ) (Q3) |
|
|
-0.3% |
|
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JPY |
Adjusted Trade Balance |
|
-0.38T |
-0.36T |
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JPY |
Exports (YoY) (Oct) |
|
-2.1% |
0.6% |
|
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JPY |
Trade Balance (Oct) |
|
-292B |
-115B |
|
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JPY |
BoJ Press Conference |
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EUR |
German Buba President Weidmann |
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GBP |
Core Retail Sales (MoM) (Oct) |
|
-0.5% |
1.7% |
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GBP |
Core Retail Sales (YoY) (Oct) |
|
3.9% |
5.9% |
|
||
GBP |
Retail Sales (MoM) (Oct) |
|
-0.5% |
1.9% |
|
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GBP |
Retail Sales (YoY) (Oct) |
|
4.2% |
6.5% |
|
||
GBP |
CBI Industrial Trends Orders (Nov) |
|
-10 |
-18 |
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EUR |
Monetary Policy Meeting |
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|
|
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USD |
Initial Jobless Claims |
|
271K |
276K |
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USD |
Philadelphia Fed Manufacturing Index |
|
-1.0 |
-4.5 |
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USD |
Philly Fed Employment (Nov) |
|
|
-1.7 |
|
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USD |
FOMC Member Lockhart Speaks |
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Government Bond Auctions
Date Time Country
Nov 19 10:30 Spain 0.25% Apr 2018 Bono, 1.15% Jul 2020 Bono, 5.4% Jan 2023
Nov 19 10:50 France Eur 7-8bn; 4.25% Oct 2018 OAT, 0.25% Nov 2020 OAT, 2.25%
Nov 19 11:50 France Eur 1-1.5bn; 0.25% Jul 2024, 1.85% Jul 2027, 3.15% Jul 2032
Nov 19 N/A US Holds 10-year TIPS auction
Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov
Nov 23 12:00 Belgium Auctions OLOs
Nov 23 N/A US Holds 2-year note auction
Nov 24 17:30 Italy Announces details of BTPs/CCTeu on 27 Nov
Nov 24 N/A Holland Eur 1.0-2.0bn 0.25% Jul 2025 DSL
Nov 24 N/A US Holds 5-year note auction
Nov 25 11:03 Sweden Holds bond auction
Nov 25 11:10 Italy Auctions CTZ/BTPei
Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund
Nov 25 N/A US Holds 2-year FRN auction
Nov 25 N/A US Holds 7-year note auction
Nov 26 11:03 Sweden Holds bond auction
Nov 27 11:03 Sweden Holds bond auction
Nov 27 11:10 Italy Auctions BTPs/CCTeus