GBP/USD Fundamental Analysis May 28, 2012, Forecast

Analysis and Recommendations:

The GBP/USD saw little activity today, closing at 1.5651 down 0.0018, as markets were very quiet, with little in the way of eco data and few words about the EU crisis in the news. The US has been very little with the beginning of a long holiday weekend, most investors in the US end the day on noon today to extend the Memorial Day weekend. There is little on the calendar early in the week next week. The USD is expected to keep its strength in the early part of the week, before we start seeing data releases.

The overall negative outlook for the UK has seen the GBP fall from the 1.63 price earlier this month.Also recently investors have shied away from anything European, which seemed to overflow to the UK.

 Markets continue to worry about Greece and Spain and contagion to surrounding countries. 

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 for May 25, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

May 25

 

JPY

 

 

 

Tokyo Core CPI (YoY) 

-0.8%

 

-0.6% 

 

-0.5% 

 

 

 

 

EUR

 

 

 

GfK German Consumer Climate 

5.7

 

5.6 

 

5.7 

   

 

 

CHF

 

 

 

Employment Level 

4.05M

 

4.02M 

 

4.04M 

 

 

 

 

PLN

 

 

 

Polish Unemployment Rate 

12.90%

 

12.80% 

 

13.30% 

 

 

 

 

MXN

 

 

 

Mexican Unemployment Rate 

4.9%

 

4.9% 

 

4.6% 

 

 

 

 

MXN

 

 

 

Mexican Trade Balance 

0.560B

 

1.000B 

 

1.575B 

 

 

 

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

Date

Time

Currency

 

Previous

May 28

28th-31st

GBP

Nationwide HPI m/m

-0.2%

May 29

All Day

EUR

German Prelim CPI m/m

0.2%

10:00

GBP

CBI Realized Sales

-6

13:00

USD

S&P/CS Composite-20 HPI y/y

-3.5%

14:00

USD

CB Consumer Confidence

69.2

May 30

7:00

CHF

KOF Economic Barometer

0.40

8:00

EUR

M3 Money Supply y/y

3.2%

8:30

GBP

Net Lending to Individuals m/m

1.4B

14:00

USD

Pending Home Sales m/m

4.1%

23:01

GBP

GfK Consumer Confidence

-31

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