EUR/JPY Fundamental Analysis September 4, 2012 Forecast

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Analysis and Recommendations:

The EUR/JPY dipped slightly in the Asian session to trade at 98.48. As traders have had the weekend to evaluate Mr. Bernanke’s speech on Friday and with US markets closed, trades are mostly adjusting to the upcoming ECB meeting which will conclude with a speech by Mr. Draghi on September 6th.

Traders are expecting the ECB to announce several progressive programs, including monetary easing and bond cap programs along with a possible interest rate cut.

Japan released its monthly data on Friday, which was overall negative, with production falling again in July.

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 September 3, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 03

 

KRW

 

 

South Korean CPI (YoY) 

1.2%

 

1.4% 

 

1.5% 

 

 

 

 

KRW

 

 

South Korean CPI (MoM) 

0.4%

 

0.5% 

 

-0.2% 

 

 

 

 

JPY

 

 

Capital Spending 

7.70%

 

8.90% 

 

3.30% 

 

 

 

 

AUD

 

 

Company Gross Operating Profits (QoQ) 

-0.7%

 

1.0% 

 

-3.7% 

   

 

 

AUD

 

 

Retail Sales (MoM) 

-0.8%

 

0.2% 

 

1.2% 

   

 

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

47.60

 

 

 

47.80 

   

 

Economic Highlights for the upcoming week… Tiers 3 keep your eyes on these

Date

Time

Currency

Event

Forecast

 

Previous

 

 

Sep. 04

05:30

AUD

Interest Rate Decision 

3.50% 

 

3.50% 

 

 

 

15:00

USD

ISM Manufacturing Index 

50.0 

 

49.8 

 

 

Sep. 05

02:30

AUD

GDP (QoQ) 

0.8% 

 

1.3% 

 

 

 

14:00

CAD

Interest Rate Decision 

1.00% 

 

1.00% 

 

 

Sep. 06

02:30

AUD

Employment Change 

5.0K 

 

14.0K 

 

 

 

02:30

AUD

Unemployment Rate 

5.3% 

 

5.2% 

 

 

 

12:00

GBP

Interest Rate Decision 

0.50% 

 

0.50% 

 

 

 

12:45

EUR

Interest Rate Decision 

0.75% 

 

0.75% 

 

 

Sep. 07

15:00

CAD

Ivey PMI 

58.0 

 

62.8 

   

Government Bond Auction

Date  Time  Country 

Sep 04  00:30  Japan  Auctions 10Y JGBs

Sep 04  09:15  Austria  Bond auction

Sep 04  09:30  Belgium  Auctions Dec 2012 (3M) & Feb 2013 (6M) T-bills

Sep 04  14:30  UK  Details 0.75% 2034 I/L Gilt & 1.75% Sep 2022 Gilt on Sep

Sep 05  09:10  Sweden  Nominal bond auction

Sep 05  09:30  Germany  Eur 5.0bn Sep 2022 Bund auction

Sep 05  09:30  UK  4.5% 2042 Gilt auction

Sep 06  00:30  Japan  Auctions 30Y JGBs

Sep 06  08:30  Spain  Bono auction

Sep 06  08:50  France  OAT auction

Sep 06  09:10  Sweden  I/L bond auction

Sep 06  15:00  US  Announces 3Y Notes on Sep 11, 10Y Notes on Sep 12 &

Sep 07  15:30  Italy

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About: FX Empire Analyst - Barry Norman

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