GBP/USD Analysis Forecast, May 15, 2015 – Forecast

Analysis and Recommendations (GBP/USD Forecast):

The GBP/USD added 23 points to trade at its highest level in several months. The pound reached 1.5768. The pound continues its politically-inspired rally as the jobs data revealed that unemployment continued to fall, as wage growth accelerated at its fasted pace since 2007. The rally brushed off the BoE’s inflation report that downgraded GDP projects, although these are now more in line with the market consensus.

The Bank of England (BOE) governor Mark Carney was on BBC radio on Thursday, saying that the weak UK productivity, one of the fallouts of financial crisis, will pick up modestly.

Carney also said the next move at the BOE is likely to be an interest rate hike. Carney expressed a possibility of higher interest rates in a year’s time. At the same time, Carney said the strength in the Pound is acting as a bit of a dampener on the UK economic growth.

The greenback continued to weaken on Thursday, sending a benchmark dollar index to the lowest level since late January as recent sluggish U.S. data prompt investors to rethink the timing of the first Federal Reserve rate hike.

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.

 GBPUSD chart

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  NZD Business NZ PMI (Apr) 54.5
  NZD Core Retail Sales (QoQ) 2.9% 1.5% 1.9%
  NZD Retail Sales (QoQ) (Q1) 2.7% 1.5% 1.7%
  GBP RICS House Price Balance (Apr) 33% 22% 22%


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

Friday, May 15, 2015

Cur. Event Actual Forecast Previous
  JPY BoJ Governor Kuroda Speaks
  CHF PPI (MoM) (Apr) -0.1% 0.2%
  USD NY Empire State Manufacturing 5.00 -1.19
  CAD Foreign Securities Purchases 7.23B 9.27B
  CAD Manufacturing Sales (MoM) 1.2% -1.7%
  USD Industrial Production (MoM) 0.1% -0.6%
  USD Michigan Consumer 88.6 88.8

Government Bond Auctions

Date Time Country

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

May 18 10:00 Belgium Auctions OLOs

May 20 09:03 Sweden Holds bond auction

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

GBP/USD analysis forecast 2015 May


Leave a Comment