Analysis and Recommendations:
The EUR/GBP is trading at 0.7876 as the euro gained in today’s session. The pair added 0.0026 up 0.34% as the pound was hit with negative eco data, with PMI falling to 45.4 and Nationwide HPI dropping to -0.7%.
The pair awaits the FOMC decision later today and then tomorrows double whammy, from the BoE and the ECB, this pair is set to see some action over the next 24 hours.
Please see our daily forecast for EUR/USD which is being held until after the FOMC statement later today.
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
Economic Data August 1, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 01 |
KRW |
South Korean CPI (YoY) |
1.5% |
2.0% |
2.2% |
|
KRW |
South Korean CPI (MoM) |
-0.2% |
0.3% |
-0.1% |
|
|
CNY |
Chinese Manufacturing PMI |
50.10 |
50.30 |
50.20 |
|
|
AUD |
House Price Index (QoQ) |
0.50% |
-0.50% |
-0.10% |
|
|
CNY |
Chinese HSBC Manufacturing PMI |
49.50 |
49.50 |
||
|
GBP |
Nationwide HPI (MoM) |
-0.7% |
-0.1% |
-0.6% |
|
|
EUR |
Italian Manufacturing PMI |
44.30 |
44.20 |
44.60 |
|
|
EUR |
French Manufacturing PMI |
43.4 |
43.6 |
43.6 |
|
|
EUR |
German Manufacturing PMI |
43.0 |
43.3 |
43.3 |
|
|
EUR |
Manufacturing PMI |
44.0 |
44.1 |
44.1 |
|
|
GBP |
Manufacturing PMI |
45.4 |
48.7 |
48.4 |
|
|
USD |
163K |
120K |
176K |
Upcoming Economic Events that affect the CHF, EUR and GBP
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 2 |
7:00 |
EUR |
-98.9K |
||
|
7:15 |
CHF |
6.2% |
|||
|
7:30 |
CHF |
48.1 |
|||
|
8:30 |
GBP |
48.2 |
|||
|
11:00 |
GBP |
375B |
|||
|
11:00 |
GBP |
0.50% |
0.50% |
||
|
11:45 |
EUR |
0.75% |
0.75% |
||
|
12:30 |
EUR |
||||
|
Aug 3 |
8:30 |
GBP |
51.3 |
||
|
9:00 |
EUR |
0.6% |
Government Bond Auctions
Date Time Country
Aug 02 08:30 Spain
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Click here for further EUR/GBP Forecast.
Originally posted here
