EUR/JPY Fundamental Analysis August 8, 2012, Forecast

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Analysis and Recommendations:

The EUR/JPY dipped a bit after the JPY regained its momentum. The euro remains positive as traders have had time to review and rethink their disappointment over comments by the ECB and are now moving to support Draghi’s moves, which is supporting the euro.

The Bank of Japan will conclude their rate and policy meeting tomorrow, although little is expected. The yen is bringing 78.27 in this morning’s session

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 7, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 07

 

GBP

 

 

 

BRC Retail Sales Monitor (YoY) 

0.1%

 

-0.2% 

 

1.4% 

 

 

 

 

AUD

 

 

 

AIG Construction Index 

32.6

 

 

 

34.8 

 

 

 

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

Date

Time

Currency

Event 

Previous

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

Government Bond Auctions

Date  Time  Country 

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

Aug 13  09:10  Italy

Aug 13  09:10  Norway

Aug 13  09:30  Germany

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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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