EUR/GBP News Aug 31-Sept 3, 2010

August 31st, 2010 Posted in News
Aug, 31 2010
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EUR/GBP

Last week was good for the euro against the British pound because it opened last Monday at 0.8174 and closed at 0.8207 on Friday. Similar to the euro versus dollar last week, the EUR/GBP pair scored a drop on Monday but then it quickly switched directions and started going up. Currently, however, it is demonstrating insecurity as the trading price this morning was 0.8208 and is 0.8172 at the moment.

Tuesday

Net Lending to Individuals m/m, 9:30 a.m. GMT. The index shows the change in the total value of new credit issued to consumers. Experts say it will go up from 0.6B to 0.7B.

Wednesday

Halifax HPI m/m, 1st-7th. Halifax House Price Index (HPI), Halifax Bank of Scotland (HBOS). The index shows the change in the price of homes financed by HBOS. Currently, the forecast is not available, but if the actual percent is higher than the predicted, it is good for the currency.

Manufacturing PMI, 9:30 a.m. GMT. The Manufacturing Purchasing Managers’ Index is a leading indicator of economic health as businesses react quickly to market conditions. A small drop is expected this month – from the current 57.3 to 57.1.

Thursday

Nationwide HPI m/m, 7:00 a.m. GMT. The Nationwide House Price Index is of a high impact because it is a leading indicator of the housing industry’s health – rising house prices attract investors and spur industry activity. A small rise is forecasted this month – from -0.5% to -0.3%.

Construction PMI, 9:30 a.m. GMT. The Construction Purchasing Managers’ Index measures the level of a diffusion index based on surveyed purchasing managers in the construction industry. Experts say it drop form 54.1 to 53.7, which is quite a significast drop compared to previous months when the index was relatively stable and set at 58 and above.

MPC Member Tucker Speaks, 13:45 p.m. GMT. Monetary Policy Committee Member Tucker Speaks. The Bank of England Deputy Governor Paul Tucker will speak on Thursday. This is an important event as BOE MPC members vote on where to set the nation’s key interest rates.

Friday

Services PMI, 9:30 a.m. GMT. The Services Purchasing Managers Index is also a leading indicator of economic health because businesses react quickly to market conditions. The index is supposed to remain stable this month as it’s expected to remain the same – 53.1.

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EUR/USD News Aug 31- Sept 3, 2010

August 31st, 2010 Posted in News
Aug, 31 2010
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EUR/USD

Last week was a little better for the euro against the dollar because it demonstrated a positive course from Tuesday through Friday, after it was quite insecure on Monday. The opening price on Monday, August 23, was 1.2710, and the week closed at 1.2758. This week starts similar to the week before as the opening price was 1.2753 and is now falling down to the current 1.2712. Hopefully, it will quickly recover on Tuesday and take a positive direction again.

Tuesday

German Unemployment Change, 8:55 a.m. GMT. This is the change in the number of unemployed people during the previous month. Last time experts said it would decrease to -18K from -20K, but it remained the same instead. This time, they say will drop to -19K, which would be good for the currency if it does come true.

CPI Flash Estimate y/y, 10:00 a.m. GMT. The index shows the change in the price of goods and services. Hopefully, the predictions of a decrease from 1.7% to 1.6% won’t come true, as it will affect the economy in a negative way.

Unemployment Rate, 10:00 a.m. GMT. Again, this is the percentage of the total number of people who are eligible to work, but are currently unemployed. The number usually stays around 10.0%, and this month we don’t expect any change as the forecast is 10.0%.

Wednesday

German Retail Sales m/m, 7:00 a.m. GMT. The index is important because it directly reflects the course of consumer spending, which accounts for the majority of overall economic activity. The forecast for this month is from -0.3% to 0.6% which will be quite significant for the economy if it comes true.

Thursday

Minimum Bid Rate, 12:45 p.m. GMT. This index is of a high impact because it measures the interest rate on the main refinancing operations providing the bulk of liquidity to the banking system. The percentage is usually 1.00% and the forecast for this month is 1.00% again.

ECB Press Conference, 13:30 p.m. GMT. This is the primary method the European Central Bank President and Vice President use to communicate with investors regarding monetary policy. The conference covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation.

Friday

Retail Sales m/m, 10:00 a.m. GMT. The index measures the change in the total value of inflation-adjusted sales at the retail level. It is expected to increase from 0.0% to 0.3% which will give a positive effect on the economy.

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EUR/GBP News August 23-28, 2010

August 26th, 2010 Posted in News
Aug, 26 2010
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EUR/GBP

The euro against the sterling was also showing a negative trend last week, as it opened at 0.8184 and closed 0.8182. On August 17, a huge rise was scored gave positive sentiment among traders, but on the following day it headed downwards again. The euro is strictly dropping against the pound again, this week. The opening trading price on Monday was 0.8174 and is currently at 0.8172. It is yet early to say what’s about to happen by Friday.

Tuesday

BBA Mortgage Approvals, 9:30 a.m. GMT. British Bankers’ Association Mortgage Approvals. This is a leading indicator of housing market demand. Since most buyers finance their home purchases with a mortgage, the index shows how many qualified buyers are entering the market. An increase is expected – from 34.8K to 36.3K, which will be good for the currency.

Thursday

Nationwide HPI m/m, 26th-31st. The index is of a great impact because it measures the change in the selling price of homes with mortgages backed by Nationwide. A small rise is expected this month – from -0.5% to -0.3%.

CBI Realized Sales, 11:00 a.m. GMT. Confederation of British Industry Realized Sales. The index is a major indicator of consumer spending because sales are directly influenced by consumer buying levels. The index shows high fluctuations every month and last time the forecast was for 2, and it came out to be 33. Now, experts predict it will go down to 25.

Revised GDP q/q, 9:30 a.m. GMT. This is the broadest measure of economic activity and health. This month, experts say, it will remain the same as last month – 1.1%.

Prelim Business Investment q/q, 9:30 a.m. GMT. This is also a major indicator of economic health as businesses are directly affected by market conditions. The forecast is quite low and if it comes true, it will mean that market conditions are unstable for businesses, and it will affect hiring, spending, earnings, etc. Last month’s 7.8% is said to drop as low as 2.3%.

Saturday

MPC Member Bean Speaks, 16:00 p.m. GMT. The BOE (Bank of England) Deputy Governor Charles Bean will speak on Saturday, when BOE MPC (Monetary Policy Committee) members will vote on where to set the nation’s key interest rates.

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