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EUR/GBP Weekly Fundamental Analysis, May 11 – 15, 2015 – Forecast

Weekly Analysis and Recommendations (EUR GBP Forecast 2015)

The EUR/GBP tumbled 137 points to 0.7252 as the pound soared over 212 points after the election in the UK surprised traders with David Cameron remaining in office.  The pound also marked its biggest one-day move against the euro since late 2011. The euro plummeted more than 2 percent on the day to 72.36 pence after touching a low of 72.25 pence, its lowest level since April 30, and well below a three-month peak of 74.82 pence scaled only a day ago.

“The UK surprise election result … is sterling positive,” said Adam Myers, European head of FX strategy at Credit Agricole.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

EURGBP(60 minutes)20150509053520

Major Economic Events for the week that you should be monitoring:

MONDAY, MAY 11

UK

GBP

BoE Asset Purchase Facility

£375

£375

UK

GBP

BoE Interest Rate Decision

0.5%

0.5%

TUESDAY, MAY 12

UK

GBP

NIESR GDP Estimate (3M) (Apr)

0.6%

WEDNESDAY, MAY 13

DE

EUR

Gross Domestic Product (QoQ) (Q1)

0.7%

EMU

EUR

Gross Domestic Product (YoY) (Q1)

0.9%

UK

GBP

BOE’s Governor Carney speech

UK

GBP

Bank of England Quarterly Inflation Report

EMU

EUR

ECB Monetary Policy Meeting Accounts

US

USD

Retail Sales ex Autos (MoM) (Apr)

0.4%

US

USD

Retail Sales (MoM) (Apr)

0.9%

FRIDAY, MAY 15

JP

JPY

Bank of Japan Governor Kuroda Speech

Government Bond Auctions

Date Time Country

May 12 09:15 Norway Holds bond auction

May 13 09:10 Italy Auctions BTPs/CCTeus

May 13 09:30 Germany Eur 3bn Feb 2025 Bund

May 13 14:30 Sweden Details bond auction on 20 May

May 14 09:30 UK Auctions 2% 2020 Conventional Gilt

 

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