EUR/JPY Fundamental Analysis August 6, 2012, Forecast

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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

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