By FXEmpire.com
Analysis and Recommendations:
The GBP/USD is trading at 1.5488 after the release of GDP numbers for the 1/2 half of the year.
Sterling is flat from yesterday’s close while underperforming on the crosses following the release of its worst GDP print since Q1 2009. GDP fell 0.7% in Q2 (-0.2% exp), reducing the y/y pace of growth to -0.8% (-0.3% exp), with the decline largely driven by poor construction figures. GBP fell nearly 0.5% following the release, having rallied ahead of the data on expectations of an improvement. The weaker data are likely to: 1) add further downward pressure to inflation given the widening in the output gap, increasing the focus on the BoE response, and 2) renew focus on the UK’s credit rating given the implications for debt to GDP ratios
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.
Economic Data July 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 25 |
JPY |
Trade Balance |
-0.30T |
-0.39T |
-0.62T |
|
AUD |
CPI (QoQ) |
0.5% |
0.6% |
0.1% |
|
|
AUD |
Trimmed Mean CPI (QoQ) |
0.5% |
0.6% |
0.3% |
|
|
EUR |
German Ifo Business Climate Index |
103.3 |
104.7 |
105.2 |
|
|
EUR |
German Current Assessment |
111.6 |
113.0 |
113.9 |
|
|
EUR |
German Business Expectations |
95.6 |
96.7 |
97.2 |
|
|
GBP |
GDP (QoQ) |
-0.7% |
-0.2% |
-0.3% |
|
|
GBP |
GDP (YoY) |
-0.8% |
-0.3% |
-0.2% |
|
|
GBP |
CBI Industrial Trends Orders |
-6 |
-12 |
-11 |
|
|
USD |
New Home Sales |
372K |
369K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 26 |
6:00 |
EUR |
5.8 |
|
|
8:00 |
EUR |
2.9% |
||
|
12:30 |
USD |
0.7% |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
Jul 27 |
27th-31st |
GBP |
-0.6% |
|
|
All Day |
EUR |
-0.1% |
||
|
7:00 |
CHF |
1.16 |
||
|
12:30 |
USD |
1.9% |
||
|
13:55 |
USD |
72.0 |
Click here a current GBP/USD Chart.
Originally posted here
