GBP/USD Fundamental Analysis November 6, 2012, Forecast

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Updated: Aug 20, 2015, 21:00 GMT+00:00

Analysis and Recommendations: The GBP/USD is trading at 1.5973 plunging 51 pips today as the US dollar gained momentum ahead of the BoE meeting. Sterling

GBP/USD Fundamental Analysis November 6, 2012, Forecast

Analysis and Recommendations:

The GBP/USD is trading at 1.5973 plunging 51 pips today as the US dollar gained momentum ahead of the BoE meeting. Sterling is weak, down 0.3% and trading in sympathy with EUR for the second consecutive session. A weaker services PMI has also added to the decline, as the index fell to 50.6 from 52.2 vs. expectations of 52.0. GBP has broken 1.60 and is trading at the lower end of its recent range ahead of important domestic and external events that include the US elections.

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 November 5, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Nov. 05	AUD	Retail Sales (MoM)	0.5%	0.4%	0.3%
	AUD	Trade Balance	-1.46B	-1.65B	-1.88B
	INR	Indian Trade Balance	-18.1B	-11.0B	-15.6B
	TRY	Turkish CPI (MoM)	1.96%	2.10%	1.03%
	EUR	Spanish Unemployment Change	128.20K	90.50K	79.60K
	GBP	Services PMI	50.6	52.0	52.2
	CAD	Building Permits (MoM)	-13.2%	-3.0%	7.9%
	USD	ISM Non-Manufacturing Index	54.2	54.5	55.1

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

Date	Time	Currency	Event	Forecast	Previous
Nov. 06	06:45	CHF	SECO Consumer Climate	-22	-17
	09:30	GBP	Industrial Production (MoM)	-0.6%	-0.5%
	09:30	GBP	Manufacturing Production (MoM)	0.3%	-1.1%
	09:30	GBP	Industrial Production (YoY)	-1.6%	-1.2%
	11:00	EUR	German Factory Orders (MoM)	-0.5%	-1.3%
Nov. 07	08:15	CHF	CPI (MoM)	0.3%	0.3%
	10:00	EUR	Retail Sales (MoM)	-0.1%	0.1%
	11:00	EUR	German Industrial Production (MoM)	-0.5%	-0.5%
Nov. 08	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:00	GBP	BOE QE Total	375B	375B
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Nov. 09	01:30	CNY	Chinese CPI (YoY)	1.9%	1.9%
	01:30	CNY	Chinese PPI (YoY)	-2.7%	-3.6%
	01:30	CNY	Chinese CPI (MoM)	0.1%	0.3%
	05:30	CNY	Chinese Fixed Asset Investment (YoY)	20.6%	20.5%
	05:30	CNY	Chinese Industrial Production (YoY)	9.4%	9.2%
	05:30	CNY	Chinese Retail Sales (YoY)	14.1%	14.2%
	07:00	EUR	German CPI (MoM)
	07:00	EUR	German CPI (YoY)	2.0%	2.0%
	09:30	GBP	Trade Balance	-8.9B	-9.8B