Analysis and Recommendations: The EUR/JPY is trading at 107.50 gaining again this morning adding 38 pips as the euro climbed on positive sentiment. With
Analysis and Recommendations:
The EUR/JPY is trading at 107.50 gaining again this morning adding 38 pips as the euro climbed on positive sentiment. With elections getting closer in Japan, contender Shinto Abe remains the favorite. Markets continue to react what is perceived as Abe’s push to lower the yen, by almost unlimited monetary easing, while setting an inflation target of 3% and forcing the BoJ to continue easing until the inflation target is met. Abe would consider pushing key lending rates to negative territory.
The euro is strong in early morning trading, with positive Chinese data helping to buoy the euro, along with a weekend of little news traders are in feeling comfortable and less stressed this morning. The euro sentiment was boosted after Germany’s parliament on Friday overwhelmingly approved billions of euros in international aid for Greece, handing a much-needed financial boost to Athens as it battles against bankruptcy. European finance ministers meet in Brussels later Monday for two-day talks focused on European-Union issues including cross-border banking supervision.
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 December 3, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
Forecast |
Previous |
|
|
||
Dec. 03 |
|
KRW |
|
|
South Korean Trade Balance |
4.47B |
3.65B |
3.70B |
|
|||
|
|
KRW |
|
|
South Korean HSBC Manufacturing PMI |
48.16 |
47.37 |
|
||||
|
|
AUD |
|
|
Company Gross Operating Profits (QoQ) |
-2.9% |
-2.5% |
-0.3% |
||||
|
|
AUD |
|
|
Retail Sales (MoM) |
0.0% |
0.4% |
0.5% |
|
|||
|
|
AUD |
|
|
ANZ Job Advertisements (MoM) |
-2.90% |
-4.60% |
|
||||
|
|
CNY |
|
|
Chinese Non-Manufacturing PMI |
55.60 |
55.50 |
|
||||
|
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
50.50 |
50.40 |
50.40 |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 04 |
00:30 |
AUD |
-2.0% |
7.8% |
|
|
00:30 |
AUD |
-14.8B |
-11.8B |
|
|
03:30 |
AUD |
3.00% |
3.25% |
|
Dec. 05 |
00:30 |
AUD |
0.6% |
0.6% |
|
|
13:15 |
USD |
125K |
158K |
|
|
13:30 |
USD |
2.7% |
1.9% |
|
|
13:30 |
USD |
-0.9% |
-0.1% |
|
|
15:00 |
USD |
53.5 |
54.2 |
|
|
20:00 |
NZD |
2.50% |
2.50% |
|
Dec. 07 |
00:30 |
AUD |
-2.05B |
-1.46B |
Government Bond Auction
Date Time Country
Dec 04 01:30 Japan
Dec 04 10:30 Belgium
Dec 04 15:30 UK
Dec 05 09:30 Spain
Dec 05 10:30 Germany
Dec 05 11:00 Norway
Dec 05 15:30 Sweden
Dec 06 01:30 Japan
Dec 06 09:50 France
Dec 06 16:00 US
Dec 07 16:30 Italy