GBP/USD Fundamental Analysis – November 3, 2015 – Forecast

Analysis and Recommendations:

The GBP/USD soared 48 points after the release of UK manufacturing PMI which printed much higher than expected. This will also help boost the outlook ahead of the Bank of England meeting on Thursday. The pound is trading at 1.5475 toward the top of its recent range.

The report indicates the economy is defying headwinds from emerging markets and maintaining some momentum. It may also reinforce the view of some Bank of England officials, who say that the U.K. economy is strong enough to warrant a rate increase soon. The pound jumped after the report and was up 0.4 percent.

The BOE’s nine-member committee will announce its next interest-rate decision and publish new forecasts on Thursday. It said last month that external factors weren’t having a material impact on the U.K., a view reinforced by the Markit survey.

The index of new orders rose to 56.9, the highest in 15 months, with a gauge of export demand also improving. Readings above 50 indicate growth.

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:

 

Upcoming Economic Events that you should be monitoring:

Tuesday, November 3, 2015

Government Bond Auctions

Date Time Country

Nov 03 10:10 Austria Holds RAGB bond sale

Nov 04 15:30 Sweden Announces details of Bond on 11 Nov

Nov 04 N/A Holland Announces details of Bond on 10 Nov

Nov 05 09:30 Spain Auctions Bonos

Nov 05 09:50 France Auctions OATs

Nov 05 10:03 Sweden Holds I/L bond auction