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EUR/GBP Analysis Forecast – June 15, 2015 – Forecast

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

The EUR/GBP dipped 17 points to trade at 0.7235. Comments from the Eurogroup of Finance Ministers provided a further drag on the single currency on the day, with Jeroen Dijsselbloem warning the markets earlier that a Grexit would be ‘very damaging for Greece’. Meanwhile Donald Tusk, the President of the European Council, was even more pessimistic, bleakly warning Greece that the time for negotiating was nearing an end and that decisions were now required. Tusk went on to assert that the day is nearing when someone has to say that ‘the game is over’.

Demand for the euro fell further still on Friday as reports that the International Monetary Fund (IMF) withdrew its negotiators from Greece added to fears that the nation could default on its upcoming repayment and end up being expelled from the Eurozone. Both today’s UK Construction Output and Eurozone Industrial Production figures could have cause additional GBP/EUR movement, but the situation in Greece is likely to dominate focus.

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

 

 

 

 

Russia – Russia Day

  NZD

 

Business NZ PMI (May)

51.5

 

51.8

 

 

  JPY

 

Industrial Production (MoM)

1.2%

1.0%

1.0%

 

 

  JPY

 

Tertiary Industry Activity Index

-0.2%

0.4%

-1.0%

 

 

  EUR

 

Spanish CPI (YoY) (May)

-0.2%

-0.2%

-0.6%

 

 

  EUR

 

Spanish HICP (YoY) (May)

-0.3%

-0.3%

-0.3%

 

 

  EUR

 

Industrial Production (MoM)

 

0.3%

-0.3%

   

 eurgbp fri

Upcoming Economic Events that you should be monitoring:

Monday, June 15, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  CHF

 

Retail Sales (YoY) (Apr)

 

 

-2.8%

 

 

  CHF

 

PPI (MoM) (May)

 

 

-2.1%

 

 

  EUR

 

Trade Balance (Apr)

 

 

23.4B

 

 

  RUB

 

Interest Rate Decision (Jun)

 

11.50%

12.50%

 

 

  USD

 

NY Empire State Manufacturing

 

5.20

3.09

 

 

  CAD

 

Manufacturing Sales (MoM)

 

 

2.9%

 

 

  USD

 

Industrial Production (MoM)

 

0.2%

-0.3%

   

Government Bond Auctions

Date Time Country

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun

 

 

EUR/GBP analysis forecast

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