EUR/JPY Fundamental Analysis July 31, 2012, Forecast

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Analysis and Recommendations:

The EUR/JPY is trading at 96.37 after climbing from a record low last week. The pair had fallen to trade in the mid 94 price range. As the euro gained momentum from a pledge by ECB Chairman Draghi to save the monetary union, echoed later by Merkel and Hollande, markets began to breathe easier and moved to more risk and also negative sentiment towards the euro began to ease. This pair got a double whammy, as risk aversion faded the JPY lost strength as the euro climbed on positive sentiment.

Traders will wait to see exactly what the ECB has in store this week, as the statements were not backed up by plans or courses of action.

Also the US Fed meeting is this week and traders are hoping for some stimulus from the Feds.

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 29-30, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 29

 

KRW

 

 

 

South Korean manufacturing BSI Index 

69.00

 

 

 

81.00 

   

 

 

NZD

 

 

 

Building Consents (MoM) 

5.7%

 

 

 

-7.1% 

 

 

Jul. 30

 

JPY

 

 

 

Industrial Production (MoM) 

-0.1%

 

1.5% 

 

-3.4% 

 

 

 

 

AUD

 

 

 

HIA New Home Sales (MoM) 

2.8%

 

 

 

0.7% 

 

 
                           

 

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

Date

Time

Currency

 Event

Previous

Jul 31

1:00

NZD

NBNZ Business Confidence

12.6

 

1:30

AUD

Building Approvals m/m

27.3%

 

1:30

AUD

Private Sector Credit m/m

0.5%

 

1:30

JPY

Average Cash Earnings y/y

-1.1%

 

12:30

USD

Core PCE Price Index m/m

0.1%

 

12:30

USD

Employment Cost Index q/q

0.4%

 

12:30

USD

Personal Spending m/m

0.0%

 

13:00

USD

S&P/CS Composite-20 HPI y/y

-1.9%

 

13:45

USD

Chicago PMI

52.9

 

14:00

USD

CB Consumer Confidence

62.0

Aug 1

1:30

AUD

HPI q/q

-1.1%

 

12:15

USD

ADP Non-Farm Employment Change

176K

 

14:00

USD

ISM Manufacturing PMI

49.7

 

18:15

USD

FOMC Statement

 

Aug 2

1:30

AUD

Retail Sales m/m

0.5%

 

1:30

AUD

Trade Balance

-0.29B

 

12:30

USD

Unemployment Claims

 
 

14:00

USD

Factory Orders m/m

0.7%

 

23:30

AUD

AIG Services Index

48.8

Aug 3

12:30

USD

Non-Farm Employment Change

80K

 

12:30

USD

Unemployment Rate

8.2%

 

12:30

USD

Average Hourly Earnings m/m

0.3%

 

14:00

USD

ISM Non-Manufacturing PMI

52.1

 

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