Share

GBP/USD Analysis Forecast, May 14, 2015 – Forecast

Analysis and Recommendations (GBP/USD Forecast):

The GBP/USD added 67 points after the Bank of England inflation report and the weaker US dollar. The pound is trading at 1.5737. UK industrial output rose an unexpected 0.5 percent in March, month on month, the strongest growth since September after 0.1 percent growth in February, according to the Financial Times. Despite expectations, there was a month-on-month rise of 4.9 percent in oil and gas extraction in March. It was the fastest rate for over a year, as oil prices began to recover.

The Bank of England today slashed its growth forecasts for this year to a median assessment of 2.5 per cent, down from 2.9 per cent.

The quarterly inflation report, in which the bank sets out its forecasts for economic growth and inflation, offers the first insight into policymakers’ thinking since they entered election purdah six weeks ago.

Governor Mark Carney said he thinks that economic growth will “re-accelerate” after a soft first quarter. The most significant development was is Eurozone economy – which is shaking off a period of stagnation – thanks to an unprecedented stimulus package which can only be a good thing for the UK.

Britain’s economy growth slowed from 0.6 per cent to 0.3 per cent in the first quarter of 2015,, following a slew of disappointing economic data.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. 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
  NZD RBNZ Gov Wheeler Speaks
  JPY Current Account n.s.a. (Mar) 2.795T 2.060T 1.440T
  AUD Wage Price Index (QoQ) (Q1) 0.5% 0.6% 0.6%
  CNY Fixed Asset Investment (YoY) 12.0% 13.5% 13.5%
  CNY Industrial Production (YoY) 5.9% 6.0% 5.6%
  EUR German CPI (MoM) (Apr) 0.0% -0.1% -0.1%
  EUR German GDP (YoY) (Q1) 1.1% 1.2% 1.6%
  EUR German GDP (QoQ) (Q1) 0.3% 0.5% 0.7%
  CNY New Loans (Apr) 707.9B 903.0B 1,180.0B
  GBP Average Earnings Index +Bonus 1.9% 1.7% 1.7%
  GBP Claimant Count Change (Apr) -12.6K -20.0K -16.7K
  GBP Unemployment Rate (Mar) 5.5% 5.5% 5.6%
  EUR GDP (QoQ) (Q1) 0.5% 0.3%
  EUR Industrial Production (MoM) 0.2% 1.1%
  GBP BoE Gov Carney Speaks
  GBP BoE Inflation Report
  EUR Monetary Policy Meeting

 GBPUSD chart

Upcoming Economic Events that you should be monitoring for GBP/USD in forex trading:

Thursday, May 14, 2015

Cur. Event Actual Forecast Previous
  NZD Business NZ PMI (Apr) 54.5
  NZD Core Retail Sales (QoQ) 1.5% 1.5%
  NZD Retail Sales (QoQ) (Q1) 1.5% 1.7%
  GBP RICS House Price Balance (Apr) 22% 21%
  CNY New Loans 1,210.0B 1,180.0B
  USD Core PPI (MoM) (Apr) 0.1% 0.2%
  USD Initial Jobless Claims 275K 265K
  USD PPI (MoM) (Apr) 0.2% 0.2%

Government Bond Auctions

Date Time Country

May 14 09:00 Ireland Eur 0.75bn 0.8% Mar 2022 IGBs

May 14 09:30 UK GBP 3.75bn 2% Jul 2020 Conventional Gilt

May 14 15:00 US Announces details of 10-year TIPS sale on 21 May

May 14 17:00 US USD 16bn 30-year bond

May 18 09:30 Germany Eur 1.5bn 12M (May 2016) Bubills

May 18 10:00 Belgium Auctions OLOs

 

GBP/USD analysis forecast

REGISTER WITH OUR FORUM AND POST AT LEAST ONE MESSAGE TO GET FREE SIGNALS

Leave a Comment