British Pound-US Dollar (GBP/USD)

The GBP/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for GBP/USD. This is mainly derived from the recent major economic releases and news. The GBP/USD economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

Pound-Dollars (GBP/USD) -Recent Economic Releases:

U.K. (GBP): Rightmove House Price Index: Year on year change 1.4% against the previous 2.0%. The month on month change was -3.3% and again less than the previous -2.6%.
U.K. (GBP): Consumer Price Index: Year on year Core CPI remained same as previous at 2.6%. Same with the year on year CPI which was again same as previous 2.7%, though the forecasts were for 2.6%.
U.K. (GBP): Producer Price Index (Output): Year on year change 2.2%, negative as compared to the forecasts (2.5%) as well as the previous 2.6%. Year on year PPI Core Output remained same as the previous at 1.4%, though the consensus was for 1.5%.
U.K. (GBP): Retail Price Index: Year on year change 3.0%, negative as compared to the forecasts as well as the previous 3.2%. Same with month on month change of 0% against the expected 0.2% and previous 0.6%.
U.K. (GBP): Retail Sales: Year on year change 0.9% and quite less than the consensus of 1.5% but slightly better than the previous 0.8%. The month on month change was 0%, the expectations were for 0.3% while the previous month had shown a decline of -0.7%. The year on year retail sales ex-Fuel was 2.0% and though higher than the previous month's 1.4% but less than the expected 2.3%.
U.K. (GBP): Gfk Consumer Confidence: -29, negative as compared to the forecasts (-25) as well as the previous -22.
U.K. (GBP): Gross Domestic Product: Year on year change was 0.0% and positive as compared to the forecasts as well as the previous -0.1%. The quarter on quarter change was 0.9% and slightly less than the expectations and previous 1.0%.
U.K. (GBP): Public Sector Net Borrowing: GBP 15.328B, negative as compared to the forecasts (GBP 14.200B) as well as the previous 6.003B British Pound.


U.S. (USD): NY Empire State Manufacturing Index for December: -8.10, negative as compared to the forecasts(-1.0) as well as the previous -5.22.
U.S. (USD): Net Long-Term TIC Flows: USD 1.3B, negative as compared to the forecasts (USD 24.3B) as well as the previous 3.2B U.S. Dollars.
U.S. (USD): Housing: Housing Starts was 0.861M and less than the consensus of 0.873M and previous month's 0.888M. On the other hand the new building permits were 0.899M and hence more than the expected 0.875M and previous 0.868M.
U.S. (USD): Existing Home Sales: The month on month change was 5.9% and quite positive as compared to the forecasts (1.3%) as well as the previous 1.5%.
U.S. (USD): GDP: Gross Domestic Purchase Price Index for Q3 was 1.6% against the previous 1.4%. The Annualized GDP in Q3 was 3.1% and positive as compared to the forecasts(2.8%)  as well as the previous 2.7%.
U.S. (USD): Jobless Claims: Initial claims were 361K and hence negative as compared to the forecasts (357K) as well as the previous 344K. Same was the case with continuing jobless claims which were 3.225M against the previous 3.213M and expected 3.199M.
U.S. (USD): Personal Consumption Expenditure: The quarter on quarter PCE Prices in Q3 remained same as the previous and expected 1.6%. Same was the case with the core PCE which remained as 1.1%.
U.S. (USD): CB Leading Indicator (MoM): -0.2% and though same as the forecasts but quite less than the previous 0.3%.
U.S. (USD): Philadelphia Fed Manufacturing Survey: 8.1, quite positive as compared to the forecasts (-3.0) as well as the previous -10.7.
U.S. (USD): Durable Goods Orders (November): 0.7% and though better than the consensus of 0.2% but less than the previous 1.1%. Same with the Durable Goods Orders ex-Transportation which were 1.6% against the consensus of -0.2% and previous 1.9%.
U.S. (USD): Income and Expenditure: The November data for Personal Income (MoM) showed a change of 0.6% which was better than the consensus of 0.3% and previous 0.1%. The year on year core personal consumption expenditure price index was 1.5% against the previous 1.6%. Personal spending data came out same as the consensus of 0.4% and quite better than the previous -0.1%.
U.S. (USD): Reuters/Michigan Consumer Sentiment Index: 72.9, negative as compared to the forecasts (74.7) as well as the previous 74.5.
 

GBP/USD Outlook : Economic Strength Meter

 
GBP/USD fundamental analysis - Economic strength outlook - December 8, 2012 GBP/USD fundamental analysis - Economic strength outlook - December 22, 2012
Immediate GBP/USD outlook based on recent economic releasesGBP/USD outlook
Pound-US Dollar Interest Rate Comparision
(For Carry Trades)
GBP
0.50%
U.S. Dollar
0.25%
GBP/USD interest rate comparision
0.25%

 

Copyright ForexAbode All rights reserved.