By FXEmpire.com

Analysis and Recommendations:

The EUR/GBP is trading at 0.7836 as it continues to fall. The euro remains weak, with turmoil in the eurozone and lack of leadership and a working plan. Eco data today in the UK showed an increase in the numbers of unemployment claims. Markets expect a report of 5.0k but actual reported in at 6.1k.

Average earning, edged up a bit but was close to forecast. Minutes released by the MPC today showed strong support for additional monetary policy and lowering the lending rate.

The pair are expected to continue to decline.

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 19, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 18

JPY

Monetary Policy Meeting Minutes

GBP

Average Earnings Index +Bonus

1.5%

1.4%

1.4%

GBP

Claimant Count Change

6.1K

5.0K

6.9K

GBP

MPC Meeting Minutes

USD

Building Permits

0.755M

0.765M

0.784M

USD

Housing Starts

0.760M

0.745M

0.711M

USD

Fed Chairman Bernanke Testifies

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

Event

Previous

Jul 19

6:00

CHF

Trade Balance

2.48B

8:00

EUR

Current Account

4.6B

8:30

GBP

Retail Sales m/m

1.4%

12:30

USD

Unemployment Claims

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

6:00

EUR

German PPI m/m

-0.3%

8:30

GBP

Public Sector Net Borrowing

15.6B

Government Bond Auctions

Date Time Country

Jul 19 00:30 Japan

Jul 19 08:30 Spain

Jul 19 08:50 France

Jul 19 09:30 UK

Jul 19 09:50 France

Jul 19 15:00 US

Jul 19 17:00 US

Jul 23- n/a UK

Jul 23 09:30 Germany

Jul 24 08:30 Netherlands

Jul 24 08:30 Spain

Jul 24 15:30 Italy

Jul 24 17:00 US

Jul 25 09:30 Germany

Jul 25 15:30 Italy

Jul 25 17:00 US

Jul 26 00:30 Japan

Jul 26 09:10 Italy

Jul 27 09:10 Italy

Jul 27 17:00 US

Click here for updated EUR/GBP News.

Originally posted here