EUR/GBP Fundamental Analysis December 14, 2012, Forecast
The EUR/GBP saw the euro win the battle today, gaining 11pips to trade at 0.8108 on positive news from the eurozone, with the announcement of an agreement for a banking supervisor an important step in balancing the EU financial systems. The euro remains in a range roughly between 81.65 and 79.60 pence that it has traded in since October. Data showed British factory orders rose above their long-run average this month, though there was little reaction in sterling. Investors will also focus on UK finance minister George Osborne’s evidence to a parliamentary committee on his mid-year budget statement later in the session. Osborne downgraded growth forecasts and said the country will miss debt-cutting goals in his Autumn Statement last week, raising concerns the UK will lose its prized AAA credit rating.
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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 December 13, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Dec. 13 |
|
KRW |
|
|
South Korean Interest Rate Decision |
2.75% |
|
2.75% |
|
2.75% |
|
|
|
|
|
CHF |
|
|
PPI (MoM) |
0.0% |
|
-0.3% |
|
-0.1% |
|
|
|
|
|
CHF |
|
|
Interest Rate Decision |
0.00% |
|
0.00% |
|
0.00% |
|
|
|
|
|
GBP |
|
|
CBI Industrial Trends Orders |
-12 |
|
-16 |
|
-21 |
|
|
|
|
|
USD |
|
|
Core PPI (MoM) |
0.1% |
|
0.2% |
|
-0.2% |
|
|
|
|
|
USD |
|
|
Core Retail Sales (MoM) |
0.0% |
|
-0.1% |
|
0.0% |
|
|
|
|
|
USD |
|
|
PPI (MoM) |
-0.8% |
|
-0.5% |
|
-0.2% |
|
|
|
|
|
USD |
|
|
Retail Sales (MoM) |
0.3% |
|
0.5% |
|
-0.3% |
|
|
|
|
|
USD |
|
|
Initial Jobless Claims |
343K |
|
370K |
|
372K |
||
|
|
|
USD |
|
|
Continuing Jobless Claims |
3198K |
|
3210K |
|
3221K |
||
|
|
|
USD |
|
|
PPI (YoY) |
1.5% |
|
1.8% |
|
2.3% |
|
|
|
|
|
USD |
|
|
Core PPI (YoY) |
2.2% |
|
2.2% |
|
2.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Dec. 14 |
07:58 |
EUR |
45.0 |
44.5 |
|
|
|
08:28 |
EUR |
47.2 |
46.8 |
|
|
|
10:00 |
EUR |
2.2% |
2.2% |
|
|
|
10:00 |
EUR |
|
1.5% |
Government Bond Auction
Date Time Country
Dec 14 11:00 Belgium
Dec 14 15:30 UK
Dec 17 10:10 Norway
Dec 17 18:00 US
Dec 18 01:30 Japan
Dec 18 09:30 Spain
Dec 18 10:10 Greece
Dec 18 18:00 US
Dec 19 18:00 US
Dec 20 10:30 UK
Dec 20 16:30 Italy
Dec 20 18:00 US
Dec 21 16:30 Italy