Analysis and Recommendations: The EUR/JPY dipped 44 points as the euro tumbled giving back most of yesterday’s gains. The Japanese yen is flat with
The EUR/JPY dipped 44 points as the euro tumbled giving back most of yesterday’s gains. The Japanese yen is flat with little or no data due following Friday’s Bank of Japan meeting and yesterday’s update which followed the same course as Friday’s comments. Still, another Japanese bank official pointed out that the possibility of a September rate hike has already been largely priced in. “As a result, profit-taking overwhelmed, with investors judging that all positive news for the dollar have been out for now,” the official said.
An official at a foreign exchange margin trading service firm said that the dollar is expected to consolidate its bottom at levels below ¥124.50 for the immediate future as currency players are finding it difficult to chase the U.S. currency higher amid a lack of fresh incentives.
News that negotiations with Greece has been moving ahead smoothly and that a final bailout agreement is almost at hand helped support the euro but there has been little data and little action.
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.
Today’s economic releases:
Cur. |
|
Event |
Actual |
Forecast |
Previous |
||
GBP |
BRC Retail Sales Monitor (YoY) (Jul) |
1.2% |
1.0% |
1.8% |
|
||
AUD |
NAB Business Confidence (Jul) |
4 |
11 |
8 |
Upcoming Economic Events that you should be monitoring:
Wednesday, August 12, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
USD |
API Weekly Crude Oil Stock |
|
|
-2.400M |
|
||
JPY |
Monetary Policy Meeting Minutes |
|
|
|
|
||
AUD |
Wage Price Index (QoQ) (Q2) |
|
0.6% |
0.5% |
|
||
JPY |
Industrial Production (MoM) (Jun) |
|
0.8% |
0.8% |
|
||
JPY |
Tertiary Industry Activity Index |
|
0.1% |
-0.7% |
|
||
CNY |
Fixed Asset Investment (YoY) (Jul) |
|
11.5% |
11.4% |
|
||
CNY |
Industrial Production (YoY) (Jul) |
|
6.6% |
6.8% |
|
||
GBP |
Claimant Count Change (Jul) |
|
1.5K |
7.0K |
|
||
GBP |
Unemployment Rate (Jun) |
|
5.6% |
5.6% |
|
||
EUR |
Industrial Production (MoM) (Jun) |
|
-0.2% |
-0.4% |
|
||
USD |
JOLTs Job Openings (Jun) |
|
5.300M |
5.363M |
|
||
USD |
Crude Oil Inventories |
|
|
-4.407M |
|
||
USD |
Federal Budget Balance (Jul) |
|
-132.0B |
51.8B |
Government Bond Auctions
Date Time Country
Aug 11 11:30 UK Auctions 0.125% 2058 I/L Gilt
Aug 12 11:30 Germany Eur 4bn Aug 2025 Bund
Aug 13 11:10 Italy Auctions BTPs/CCTeus
Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz
Aug 19 11:03 Sweden Holds bond auction
Aug 20 10:30 Spain Auctions Bonos/Obligaciones
Aug 20 11:30 UK Auctions 4.25% 2036 Gilt
Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug