EUR/JPY Fundamental Analysis August 6, 2012, Forecast

Posted August 03, 2012 5:05 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/JPY is trading at 95.20 as the euro once again begins drifting lower against the JPY. Once ECB President Draghi began his statement yesterday, almost instantly traders knew that the speaker was going to be added to the long list of EU politicians who offer grand plans and just cannot deliver actual results.

As Mr. Draghi spoke, markets turned and sentiment turned from hopeful to negative and the euro began to collapse from trading at the 1.24 level earlier in the day, it fell to trade in the mid 1.21 price level, just about where it was before Mr. Draghi lifted market spirits a week ago.

Traders returned to their anti european stance, and also back to risk aversion pushing the JPY to new strenghts.

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 2, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 03

AUD

AIG Services Index

46.5

48.8

CNY

Chinese Non-Manufacturing PMI

55.60

56.70

CNY

Chinese HSBC Services PMI

53.10

52.30

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

Date	Time	Currency	Event	Forecast	Previous
Aug 6	1:30	AUD	ANZ Job Advertisements m/m		-1.2%
	22:45	NZD	Labor Cost Index q/q		0.5%
Aug 7	4:30	AUD	Cash Rate	3.50%	3.50%
	4:30	AUD	RBA Rate Statement
	23:50	JPY	Current Account		0.28T
Aug 8	1:30	AUD	Home Loans m/m		-1.2%
	12:30	USD	Prelim Nonfarm Productivity q/q		-0.9%
	12:30	USD	Prelim Unit Labor Costs q/q		1.3%
	14:30	USD	Crude Oil Inventories
	22:45	NZD	Employment Change q/q		0.4%
	22:45	NZD	Unemployment Rate		6.7%
	23:50	JPY	Core Machinery Orders m/m		-14.8%
Aug 9	1:30	AUD	Employment Change		-27.0K
	1:30	AUD	Unemployment Rate		5.2%
	12:30	USD	Trade Balance		-48.7B
	12:30	USD	Unemployment Claims
Aug 10	1:30	AUD	RBA Monetary Policy Statement
	12:30	USD	Import Prices m/m		-2.7%
	18:00	USD	Federal Budget Balance		-59.7B

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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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