Analysis and Recommendations: The EUR/JPY tumbled 25 points in the Asian session to trade at 138.73 as the euro soared in the early session. The Japanese
Analysis and Recommendations:
The EUR/JPY tumbled 25 points in the Asian session to trade at 138.73 as the euro soared in the early session. The Japanese yen gained as safe haven status as traders worried about the situation in China.
The yen climbed to a six-week peak early on Monday and raced to a two-year high on its Australian peer as investors sought the safety of the Japanese currency on heightened risk aversion.
Worries about a slowing Chinese economy, and in turn global growth, flared up last Friday after a survey showed a further deterioration in China’s manufacturing activity.
This was compounded by a steep drop in the Chinese share market, triggering a domino effect that saw European stocks and Wall Street suffer their biggest one-day drop in nearly four years.
“‘Risk off’ remains the dominant theme of currency markets, with JPY and EUR expected to continue to strengthen. Should the higher volatility persist, the AUD and NZD should start to markedly under-perform more,” analysts at ANZ wrote in a note to clients.
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 |
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USD |
FOMC Member Lockhart Speaks |
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Upcoming Economic Events that you should be monitoring:
Tuesday, August 25, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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EUR |
German GDP (QoQ) (Q2) |
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0.4% |
0.4% |
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EUR |
German GDP (YoY) (Q2) |
|
1.6% |
1.6% |
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CHF |
Employment Level (Q2) |
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4.225M |
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EUR |
German Business Expectations (Aug) |
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102.0 |
102.4 |
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EUR |
German Current Assessment (Aug) |
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113.9 |
113.9 |
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EUR |
German Ifo Business Climate Index |
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107.8 |
108.0 |
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USD |
S&P/CS HPI Composite – 20 n.s.a. |
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5.1% |
4.9% |
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USD |
Services PMI (Aug) |
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56.0 |
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USD |
CB Consumer Confidence (Aug) |
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93.3 |
90.9 |
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USD |
New Home Sales (MoM) (Jul) |
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6.0% |
-6.8% |
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USD |
New Home Sales (Jul) |
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510K |
482K |