GBP/USD
GBP/USD Fundamental Analysis February 8, 2012, Forecast

GBP/USD Fundamental Analysis February 8, 2012, Forecast

Economic Events: (GMT)

There are no major economic events scheduled in Europe or the USA on Wednesday.

Analysis and Recommendations:

The GBP/USD is currently trading at 1.5883. The USD is lower in trading today as the possibility of a Greek deal becomes clear. According to the Financial Times, Papademos has submitted a final draft of the terms of the bailout to party leaders, who are set to decide on the measures later Tuesday.

This news alone has pushed the USD down beyond expectations. We should see the dollar recover duing US trading on Tuesday afternoon USA time or Wednesday.

 Review of Tuesday's Economic Reports

 

00:01

 

GBP

 
 

BRC Retail Sales Monitor (YoY) 

-0.3%

 

-0.8% 

 

2.2% 

03:30

 

AUD

 
 

Interest Rate Decision 

4.25%

 

4.00% 

 

4.25% 

03:30

 

AUD

 
 

RBA Rate Statement 

 

 
 
 
 

05:00

 

JPY

 
 

Leading Index 

94.3

 

93.8 

 

93.7 

07:45

 

EUR

 
 

French Trade Balance 

-5.0B

 

-5.3B 

 

-4.1B 

08:00

 

TWD

 
 

Taiwanese Trade Balance 

0.42B

 

2.10B 

 

2.31B 

11:00

 

EUR

 
 

German Industrial Production

-2.9%

 

-0.1% 

 

0.0% 

11:30

 

CLP

 
 

Chilean Trade Balance 

1.98B

 

1.15B 

 

0.39B 

13:30

 

CAD

 
 

Building Permits (MoM) 

11.1%

 

0.8% 

 

-2.6% 

15:00

 

USD

 
 

IBD/TIPP Economic Optimism 

49.4

 

48.3 

 

47.5 

16:30

 

USD

 
 

4-Week Bill Auction 

0.060%

 
 
 

0.050%

Scheduled Sovereign Bond Sales

Feb 08  10:10  Sweden  Nominal bond auction

Feb 08  10:30  Germany  Eur 4.0bn Feb 2017 Bobl

Feb 08  10:30  Swiss  Bond auction

Feb 08  16:30  Italy   Details BOT auction on Feb 13

Feb 08  18:00  US  Auctions 10Y Notes

Feb 09  10:10  Sweden  Sek 0.75bn I/L bond auction

Feb 09  15:30  Sweden  Details I/L bond auction on Mar 23

Feb 09  16:00  US  Announces auctions of 30Y TIPS on Feb 16

Feb 09  16:30  Italy   Details BTP/CCTeu auction on Feb 14

Feb 09  18:00  Italy   Auctions 30Y Bonds

Feb 10  11:00  Belgium  OLO auction

 

 

GBP/USD Pivot Points (Time Frame: 1 Day)
 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.5705
1.5747
1.5824
1.5865
1.5943
1.5984
1.6062

Fibonacci
1.5747
1.5792
1.5820
1.5865
1.5911
1.5939
1.5984

Camarilla
1.5869
1.5880
1.5891
1.5865
1.5912
1.5923
1.5934

Woodie's
-
1.5756
1.5842
1.5874
1.5961
1.5994
-

DeMark's
-
-
1.5964
1.5876
1.5845
-
-