By FXEmpire.com
Analysis and Recommendations:
The GBP/USD climbed a bit today, at trade at 1.6154.The Bank of England today, kept its current interest rate at 0.05% and maintained its current monetary policy, and therefore avoided any public statement or announcements.
The euro continued to be weak but saw the USD lose a bit of momentum, as the euro dollar climbed a few pips, which also allowed it to keep up a bit of pressure against the sterling.Industrial production reported at forecast, while manufacturing production was a surprise well above forecast in Britain today.
Across the world in the US, unemployment numbers today were better than forecast, but markets and economists believe this drop continues due to the loss of benefits and the jobless just falling off of government rosters.
The GBP should remain strong, and if there is any weakness within the greenback we might see the pair trade at 1.63 in the coming days.
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, which cover the current week and are published by Sunday before the new week begins. Daily as the markets close we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole. Please click on the links to find the most recent reports for this asset.
Economic Data for May 10, 2012 actual v. forecast
|
JPY |
Adjusted Current Account |
0.79T |
0.65T |
0.86T |
|
KRW |
South Korean Interest Rate Decision |
3.25% |
3.25% |
3.25% |
|
AUD |
Employment Change |
15.5K |
-5.5K |
44.0K |
|
AUD |
Unemployment Rate |
4.9% |
5.3% |
5.2% |
|
CNY |
Chinese Trade Balance |
18.40B |
8.50B |
5.35B |
|
GBP |
Industrial Production (MoM) |
-0.3% |
-0.3% |
0.4% |
|
GBP |
Manufacturing Production (MoM) |
0.9% |
0.5% |
-1.1% |
|
GBP |
Industrial Production (YoY) |
-2.6% |
-2.6% |
-2.3% |
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
USD |
Import Price Index (MoM) |
-0.5% |
-0.2% |
1.5% |
|
Trade Balance |
0.4B |
1.0B |
0.3B |
|
|
USD |
Trade Balance |
-51.8B |
-50.0B |
-45.4B |
|
USD |
Initial Jobless Claims |
367K |
369K |
368K |
|
USD |
Continuing Jobless Claims |
3229K |
3278K |
3290K |
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.2% |
|
|
USD |
Federal Budget Balance |
30.0B |
-198.2B |
Upcoming Economic Events that affect the CHF,EUR, GBP and USD
|
May 11 |
00:01 |
GBP |
53 |
|
|
07:00 |
EUR |
0.1% |
0.1% |
|
|
09:30 |
GBP |
-1.0% |
1.9% |
|
|
10:00 |
EUR |
1.20% |
||
|
13:30 |
USD |
0.3% |
||
|
13:30 |
USD |
0.0% |
||
|
14:55 |
USD |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for updated GBP/USD News.
Originally posted here
