EUR/JPY Fundamental Analysis August 16, 2012, Forecast

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Analysis and Recommendations:

The EUR/JPY added 0.07 pips this morning to trade at 97.09. The euro has held pretty steady against a strong USD, but the JPY has begun to show weakness, after several weeks of poor eco data. As risk aversion leaves the marketplace and traders continue to move into higher risk assets, the JPY is left hanging. The USD was finally able to get a firmer footing against the yen and breakout of its trading range.

The euro remains strong on hopes that we will see some action from the ECB, with news flow to a minimum, Spain, Greece and Italy have been quiet.

FxEmpire provides in-depth analysis for each currency and commodity we review. 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 recent analysis and information in our  weekly reports and we provide daily updates and outlooks

Economic Data August 15, 2012 actual v. forecast

Date

Time

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 15

01:30

 

AUD

 

 

 

Westpac Consumer Sentiment 

-2.50%

 

 

 

3.70% 

 

 

 

02:30

 

AUD

 

 

 

Wage Price Index (QoQ) 

1.0%

 

0.8% 

 

0.9% 

 

 

 

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event 

Forecast

Previous

Aug 16

1:00

AUD

MI Inflation Expectations

 

3.3%

 

12:30

USD

Building Permits

0.77M

0.76M

 

12:30

USD

Unemployment Claims

365K

361K

 

12:30

USD

Housing Starts

0.76M

0.76M

 

14:00

USD

Philly Fed Manufacturing Index

-4.3

-12.9

 

22:45

NZD

PPI Input q/q

 

0.3%

Aug 17

13:55

USD

Prelim UoM Consumer Sentiment

72.5

72.3

Government Bond Auctions

Date  Time  Country 

Aug 16  09:30  UK

Aug 16  15:00  US

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About:FX Empire Analyst - Barry Norman

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