EUR/JPY Fundamental Analysis August 28, 2012, Forecast

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Analysis and Recommendations:

The EUR/JPY is trading at 98.50 as the euro continues to march upward, with hopes of actions by the ECB and decisions to settle Greece and Spain coming to a head this week. Positive comments from Chancellor Merkel after her meeting with the Greek Prime Minister relaxed markets as Merkel seemed to have a more positive attitude towards Greece and the possibility of negotiations. Also Germany seems to be lightening this stance on the ECB bond programs.

The JPY continues to weaken after poor eco data releases, the primary one was the huge decline in the Trade Balance, which shows a huge drop in imports and exports.

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 24 & 27, 2012 actual v. forecast (there were no releases for the AUD, NZD or JPY on Monday morning)

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 24

 

AUD

 

 

 

RBA Governor Stevens Speaks 

 

 

 

 

 

 

 

 

 

JPY

 

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

 

 

GBP

 

 

 

Business Investment (QoQ) 

-1.5%

 

2.8% 

 

1.9% 

 

 

 

 

GBP

 

 

 

GDP (QoQ) 

-0.5%

 

-0.5% 

 

-0.7% 

 

 

 

 

GBP

 

 

 

GDP (YoY) 

-0.5%

 

-0.6% 

 

-0.8% 

 

 

 

 

USD

 

 

 

Core Durable Goods Orders (MoM) 

-0.4%

 

0.5% 

 

-2.2% 

   

 

 

USD

 

 

 

Durable Goods Orders (MoM) 

4.2%

 

2.4% 

 

1.6% 

   

 

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

Date

Time

Currency

Event

Previous

Aug. 28

15:00

USD

CB Consumer Confidence 

65.9 

 

02:30

AUD

Construction Work Done (QoQ) 

5.5% 

Aug. 29

23:45

NZD

Building Consents (MoM) 

5.7% 

 

00:50

JPY

Retail Sales (YoY) 

0.2% 

 

02:30

AUD

Building Approvals (MoM) 

-2.5% 

Aug. 30

02:30

AUD

Private New Capital Expenditure (QoQ) 

6.1% 

Aug. 31

00:30

JPY

Tokyo Core CPI (YoY) 

-0.6% 

 

00:50

JPY

Industrial Production (MoM) 

0.4% 

Government Bond Auctions

Date Time Country 

28/8  10:30  Spain

28/8  11:00  Italy 

28/8  19:00  US 

29/8  11:00  Italy 

29/8  19:00  US 

30/8  05:35  Japan

30/8  11:00  Italy 

30/8  19:00  US

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About: FX Empire Analyst - Barry Norman

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