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GBP/USD Fundamental Analysis – November 26, 2015 – Forecast

By:
Barry Norman
Published: Nov 25, 2015, 12:06 UTC

Analysis and Recommendations: The GBP/USD eased 20 points to 1.5062 as the US dollar surged today. The Bank of England’s Mark Carney announced that the

GBP/USD Fundamental Analysis – November 26, 2015 – Forecast

gbpusd wednesday bns
Analysis and Recommendations:

The GBP/USD eased 20 points to 1.5062 as the US dollar surged today. The Bank of England’s Mark Carney announced that the interest rate for the country will remain low for some time. The Bank’s economist Haldane announced that the risk balance for the UK economy and inflation is skewed downwards. The pound/dollar has fallen to 1.5054.

George Osborne will announce big cuts in spending for the police, social care, local government, further education, renewable energy and welfare as he is forced to finally spell out how he plans to have reduced spending in key government departments cumulatively by nearly 50% since the Conservatives came to power in 2010.

After weeks of media focus on protected Whitehall departments, the chancellor will detail how the cuts will fall across the rest of government departments.

The shadow chancellor, John McDonnell, said Osborne had no more excuses left after five years. Stealing Osborne’s security theme, he added: “The cuts are putting people’s livelihoods at risk.”

Ministers have pledged to cut annual welfare spending by £12bn, and government departments have been asked to find a total of £20bn in savings under plans to achieve a £10bn budget surplus by 2019-2020. The chancellor also hopes to raise £5bn with a crackdown on tax avoidance.

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

 

  USD

 

API Weekly Crude Oil Stock

2.600M

-0.200M

-0.482M

 

 

  JPY

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  AUD

 

Construction Work Done (QoQ) (Q3)

-3.6%

-2.1%

2.1%

   

  GBP

 

BBA Mortgage Approvals

 45.4

45.5K

44.5K

 

 

  AUD

 

RBA Assist Gov. Debelle Speaks 

 

 

 

   

 

gbpusd

Upcoming Economic Events that you should be monitoring:

Wednesday, November 26, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

 

 

 

United States – Thanksgiving Day

  NZD

 

Trade Balance (MoM) (Oct)

 

-937M

-1,222M

 

 

  NZD

 

Trade Balance (YoY) (Oct)

 

-3,370M

-3,200M

 

 

  AUD

 

Private New Capital Expenditure

 

-3.0%

-4.0%

 

 

  EUR

 

GfK German Consumer Climate (Dec)

 

9.2

9.4

   

Government Bond Auctions

Date Time Country

Nov 25 11:03 Sweden Sek 4bn 1% Nov 2026 bond

Nov 25 11:10 Italy Auctions CTZ/BTPei

Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund

Nov 25 17:30 US Usd 35bn 2-year FRN

Nov 25 19:00 US Usd 29bn 7-year note

Nov 26 11:03 Sweden Sek 5bn 1% Nov 2026 bond exchange

Nov 27 11:03 Sweden 1.5% Nov 2023 bond exchange, 1% Nov 2026 bond exchange

Nov 27 11:10 Italy Auctions BTPs

Nov 27 N/A Spain Announces details of 03 Dec

Nov 30 11:03 Sweden Holds bond auction

Dec 01 11:30 UK 1.5% 2021 Gilt auction

Dec 02 16:30 Sweden Announces details of Bond on 11 Dec

Dec 03 10:30 Spain Auctions

Dec 03 10:50 France Auctions OATs

Dec 03 11:03 Sweden Holds I/L bond auction

Dec 04 11:03 Sweden Holds I/L bond auction

 

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