EUR/JPY Fundamental Analysis July 27, 2012, Forecast

Posted July 26, 2012 6:15 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/JPY declined at 94.82 as the pair remain close to record lows. The euro was able to gain a bit of momentum against the USD but not against the JPY which remains strong regardless of comments and threats by the BoJ and the MoF. Markets remain in risk aversion theme and the currency of choice remains the JPY.

With negative housing data released in the US yesterday, the likelihood of stimulus from the Fed’s at their August 1st meeting becomes an odds on favorite, weakening the USD and supporting the JPY, which leaves this pair hanging out to dry.

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 July 26, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 26

KRW

South Korean GDP (QoQ)

0.4%

0.5%

0.9%

KRW

South Korean GDP (YoY)

2.4%

2.6%

2.8%

JPY

CSPI (YoY)

-0.3%

0.0%

0.1%

JPY

BoJ Governor Shirakawa Speaks

SGD

Singaporean Industrial Production (YoY)

7.6%

3.2%

6.8%

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

Date	Time	Currency	Event	Previous
Jul 27	12:30	USD	Advance GDP q/q	1.9%
Jul 27	13:55	USD	Revised UoM Consumer Sentiment	72.0

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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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