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

GBP/USD Fundamental Analysis, June 05, 2015 - Forecast

GBP/USD Fundamental Analysis, June 05, 2015 – Forecast

Analysis and Recommendations (GBP/USD Forecast):

The GBP/USD added 99 points to trade at 1.5439 soaring on the weak US dollar and better than expected house price data. The latest Halifax house price index released on Friday showed that British average house price stood at 196,412 pounds in April, a seasonally-adjusted 1.6 percent rise month-on-month.

House prices in the three months to April were 2.2 percent higher than in the preceding three months, according to the Halifax, a lender under Lloyds Banking Group. The annual house price growth was 8.5 percent, slightly higher than March’s 8.1 percent, it added.

“It seems unlikely that house prices will see a marked slowdown over the remainder of this year,” said Ed Stansfield, Chief Property Economist of the Capital Economics.

“Employment is still rising strongly, mortgage interest rates are continuing to edge lower and consumer confidence is close to an eight-year high. And for now at least, the low level of new instructions is helping to keep prices moving up,” he added.

Halifax has warned that property supply and demand imbalance is likely to push up house prices over the coming months, as its house price index reveals that annual prices grew by almost 9 per cent in the 12 months to May.

Halifax’s house price index, published today (4 June), revealed that house prices edged down by 0.1 per cent between April and May, however over the year, they rose to 8.6 per cent from 8.5 per cent in the preceding month.

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 GBP/USD 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%

   

 GBPUSD(60 minutes)20150604042821

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

 

GBP/USD analysis forecast

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