GBP/USD Fundamental Analysis October 31, 2014 Forecast

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Updated: Aug 25, 2015, 07:00 UTC

Analysis and Recommendations: The GBP/USD recovered from early losses to trade in the red but only by 9 points as the US dollar skyrocketed. The pound is

GBP/USD Fundamental Analysis October 31, 2014 Forecast

Analysis and Recommendations:

The GBP/USD recovered from early losses to trade in the red but only by 9 points as the US dollar skyrocketed. The pound is trading at 1.60 after a strong Housing Price Index report. U.K. house price growth slowed to a nine-month low October, adding to evidence that the market for residential property is cooling.

Annual price gains dropped to 9 percent from 9.4 percent in September in a second month of declines, Nationwide Building Society said today in a statement on its website. Still, prices rose 0.5 percent on the month after dropping 0.1 percent.

Mortgage approvals fell to a 14-month low in September, Bank of England data show, and Hometrack Ltd. said London has hit an “inevitable” slowdown after values reached a record. The central bank imposed tougher mortgage rules to preserve financial stability.

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 actual vs. forecast:

Cur.	Event	Actual	Forecast	Previous
AUD	HIA New Home Sales	0.0%		3.3%
GBP	Nationwide HPI (YoY)	9.0%	8.5%	9.4%
GBP	Nationwide HPI (MoM)	0.5%	0.3%	-0.1%
GBP	MPC Member Cunliffe
EUR	Spanish GDP (QoQ)	0.5%	0.5%	0.6%
EUR	German Unemployment	-22K	5K	9K
EUR	German Unemployment	6.7%	6.7%	6.7%
USD	GDP (QoQ) (Q3)		3.0%	4.6%
USD	GDP Price Index (QoQ)		2.0%	2.1%
USD	Initial Jobless Claims		283K	283K
USD	Fed Chair Yellen Speaks

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
JPY	Household Spending		-4.3%	-4.7%
JPY	National Core CPI (YoY)		3.0%	3.1%
JPY	Tokyo Core CPI (YoY)		2.5%	2.6%
AUD	PPI (YoY) (Q3)			2.3%
AUD	PPI (QoQ) (Q3)			-0.1%
AUD	Private Sector Credit		0.4%	0.4%
JPY	BoJ Press Conference
EUR	German Retail Sales		-1.0%	2.5%
EUR	French Consumer		-0.3%	-0.7%
EUR	Italian CPI (MoM)		-0.2%	-0.4%
EUR	Core CPI (YoY) (Oct)		0.8%	0.8%
EUR	CPI (YoY) (Oct)		0.4%	0.3%
EUR	Unemployment Rate		11.5%	11.5%
USD	Core PCE Price Index			1.5%
CAD	GDP (MoM) (Aug)		0.0%	0.0%
USD	Chicago PMI (Oct)		60.0	60.5
USD	Michigan Consumer		86.4	86.4