EUR/JPY Fundamental Analysis August 29, 2012, Forecast

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Analysis and Recommendations:

The EUR/JPY is trading at 98.03 falling 0.38 as the JPY picks up momentum. The JPY seems to be benefiting from an overnight move in market sentiment toward risk off assets.

The Japanese yen strengthened against its major counterparts in the early Asian session on Tuesday after the country’s government lowered its economic assessment for the first time in ten months.

It noted that further slowdown of overseas economies and sharp fluctuations in the financial and capital markets due to high degree of uncertainty about the prospects of the Eurozone debt crisis are downside risks of the Japanese economy. 

Investors were once again worried about the ongoing debt crisis in the EU which saw the JPY gain and the EUR falling in early morning trades.

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 28, 2012 actual v. forecast

Date

Time

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 28

02:00

 

AUD

 

 

HIA New Home Sales (MoM) 

-5.6%

 

 

 

2.8% 

 

 

 

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

Date

 

Currency

 

 

 

Event

Forecast

 

Previous

 

 

Aug. 29

 

AUD

 

 

 

Construction Work Done (QoQ) 

1.0% 

 

5.5% 

 

 

 

 

USD

 

 

 

GDP (QoQ) 

1.7% 

 

1.5% 

 

 

 

 

USD

 

 

 

Pending Home Sales (MoM) 

1.0% 

 

-1.4% 

 

 

 

 

USD

 

 

 

Beige Book 

 

 

 

 

 

 

 

NZD

 

 

 

Building Consents (MoM) 

3.0% 

 

5.7% 

  

Government Bond Auctions

Date Time Country 

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

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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