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EUR/GBP Analysis Forecast, June 05, 2015 – Forecast

eurgbp thursday bnsAnalysis and Recommendations (EUR/GBP Forecast):

The EUR/GBP added 5 points to trade at 0.7354 as the euro continued to climb today after comments that a Greek deal was done, but the pound was able to recover almost 100 points after the BoE meeting and a better than expected annual house price index.  The euro strengthened 0.6 percent t after gaining 3.2 percent in the previous two days, leaving it on course for the greatest three-day gain since March 2009. The euro held its gains on Thursday, bolstered by the European Central Bank’s upbeat inflation forecasts and hopes for a last-minute Greek bailout deal.

Halifax says UK house prices increased by 1.6% in April, their biggest monthly increase since January and a second successive month of growth.

The Halifax House Price Index shows the average price of a UK home has jumped from £192,970 to £196,412.

However, Halifax says that house prices in the three months to April were only 2.2% higher than in the previous quarter. This figure means the underlying rate of house price growth fell for the first time in 2015 following three successive rises.

That said, annual house price growth is up slightly from 8.1% to 8.5%, though this is still well below last July’s peak of 10.2%.

ForexTraq 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 for EUR/GBP in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

 

Event

Actual

Forecast

Previous

 

  JPY

 

BoJ Governor Kuroda Speaks  

 

 

 

 

 

  AUD

 

Retail Sales (MoM) (Apr)

0.0%

0.4%

0.2%

   

  AUD

 

Trade Balance (Apr)

-3.888B

-2.250B

-1.231B

   

  GBP

 

Halifax House Price Index

-0.1%

0.3%

1.6%

 

 

  GBP

 

Halifax House Price Index

8.6%

8.5%

8.5%

 

 

  GBP

 

BoE QE Total (Jun)

 

375B

375B

 

 

  GBP

 

Interest Rate Decision (Jun)

 

0.50%

0.50%

   

 EURGBP(60 minutes)20150604042852

Upcoming Economic Events that you should be monitoring:

Friday, June 05, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

Nonfarm Payrolls (May)

 

225K

223K

 

 

  USD

 

Unemployment Rate (May)

 

5.4%

5.4%

 

 

  CAD

 

Employment Change (May)

 

10.0K

-19.7K

   

Government Bond Auctions

Date Time Country

Jun 08 12:00 Norway Details bond auction on 10 Jun

Jun 08 17:30 Italy Announces details of BTP/CCTeu on 11 June

Jun 09 11:10 Austria Holds RAGB bond sale

Jun 09 11:30 UK Auctions 0.125% 2024 I/L Gilt

Jun 10 11:15 Norway Holds bond auction

Jun 10 11:30 Germany Eur 5bn Jun 2017 Schatz

Jun 10 16:30 Sweden Details bond auction on 17 June

Jun 11 11:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Holds inflation-linked bond auction

Jun 11 11:30 UK Auctions 3.5% 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

 

EUR/GBP analysis forecast

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