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GBP/USD Weekly Fundamental Analysis- November 30 – December 4, 2015 – Forecast

By:
Barry Norman
Published: Nov 28, 2015, 10:35 UTC

Weekly Analysis and Recommendation:   The GBP/USD closed Friday at 1.5030 down 1.07% for the week against the strong US dollar. Sterling fell to $1.5032;

GBP/USD Weekly Fundamental Analysis- November 30 – December 4, 2015 – Forecast

gbpusd weekly bns
Weekly Analysis and Recommendation:  

The GBP/USD closed Friday at 1.5030 down 1.07% for the week against the strong US dollar. Sterling fell to $1.5032; its lowest in three weeks and down from around $1.5057 before the data was released. It ticked up immediately after the data, but quickly gave up those gains, to drop through support at $1.5050.  Some traders were targeting this month’s 7-month low of $1.5027.

The pound earned some relief earlier in the week after Finance Minister George Osborne’s “Autumn Statement”, in which he eased some spending cuts and dropped an unpopular plan to scrap some benefits for low-earners, as well as announcing a higher growth forecast of 2.4 per cent for 2016.

Investors have pushed back their expectations for when the BoE would start to raise rates to the end of 2016 after the bank’s latest Inflation Report this month, when the bank sounded a dovish tone on inflation and warned of the deflationary impact of a strong currency. It also flagged risks to the UK economy from a global slowdown.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

gbpusd

Major Economic Events for the week:

 

 

 

 

Event

 

 

Consensus

Previous

   

 

TUESDAY, DEC 01

 

 

 

 

JPY

Bank of Japan Governor Kuroda

 

         

 

 

 

AUD

RBA Interest Rate Decision

 

 

2%

2%

   

 

 

 

AUD

RBA Rate Statement 

 

         

 

 

 

EUR

Unemployment Change (Nov)

 

 

-5K

-5K

   

 

 

 

EUR

Unemployment Rate s.a. (Nov)

 

 

6.4%

6.4%

   

WEDNESDAY, DEC 02

 

 

 

 

AUD

RBA’s Governor Glenn Stevens

 

         

 

 

 

EUR

Consumer Price Index – Core

 

 

1.1%

1.1%

   

 

 

 

EUR

Consumer Price Index (YoY) (Nov)

 

 

0.2%

0.1%

   

 

 

 

EUR

Producer Price Index (MoM)

 

 

-0.4%

-0.3%

   

 

 

 

EUR

Producer Price Index (YoY) (Nov)

 

 

-3.2%

-3.1%

   

 

 

 

CAD

BoC Interest Rate Decision

 

   

0.5%

   

 

 

 

CAD

BOC Rate Statement 

 

         

THURSDAY, DEC 03

 

 

 

 

EUR

ECB Interest Rate Decision (Dec 3)

 

 

0.05%

0.05%

   

 

 

 

EUR

ECB press conference 

 

         

 

 

 

USD

Fed’s Yellen testifies 

 

         

FRIDAY, DEC 04

 

 

 

 

USD

Unemployment Rate (Nov)

 

 

5%

5%

   

 

 

 

USD

Nonfarm Payrolls (Nov)

 

 

200K

271K

   

 

 

 

CAD

Net Change in Employment (Nov)

 

 

0.7K

44.4K

   

 

 

 

CAD

Unemployment Rate (Nov)

 

 

7%

7%

   
                                     

Upcoming Government Bond Auctions

Date Time Country 

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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