Outlook and Recommendation The EUR/JPY added 29 points to trade at 136.02 as the euro recovered towards the end of the month. The JPY will continue to
The EUR/JPY added 29 points to trade at 136.02 as the euro recovered towards the end of the month. The JPY will continue to face a depreciating bias on the back of the Bank of Japan’s aggressive monetary policy accommodation.
JPY is entering August around the lower end of its two-month range, with movement generally restrained by the offsetting impact of weaker fundamentals and the supportive influence of broader risk aversion. JPY sentiment is bearish; however note that it is off the extended levels observed in early June with a mid-July CFTC short position at $6.3bn.
A differentiated foreign exchange performance is expected to take place through 2016 with stabilization and modest strength anticipated for most currencies with the exception of the Japanese yen (JPY) and the euro (EUR).
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.
Major Economic Events In August That You Should Be Monitoring:
Time |
Cur. |
Event |
Forecast |
Previous |
|
|||
Saturday, August 1, 2015 |
||||||||
05:00 |
CNY |
Manufacturing PMI (Jul) |
50.2 |
50.2 |
|
|||
Monday, August 3, 2015 |
||||||||
05:45 |
CNY |
HSBC Manufacturing PMI (Jul) |
|
|
48.2 |
|
||
11:55 |
EUR |
German Manufacturing PMI (Jul) |
|
51.5 |
51.5 |
|
||
12:30 |
GBP |
Manufacturing PMI (Jul) |
|
51.6 |
51.4 |
|
||
18:00 |
USD |
ISM Manufacturing PMI (Jul) |
|
53.5 |
53.5 |
|
||
Tuesday, August 4, 2015 |
||||||||
05:30 |
AUD |
Retail Sales (MoM) (Jun) |
|
0.5% |
0.3% |
|
||
08:30 |
AUD |
Interest Rate Decision (Aug) |
|
2.00% |
2.00% |
|
||
12:30 |
GBP |
Construction PMI (Jul) |
|
58.4 |
58.1 |
|
||
Wednesday, August 5, 2015 |
||||||||
02:45 |
NZD |
Employment Change (QoQ) (Q2) |
|
0.5% |
0.7% |
|
||
12:30 |
GBP |
Services PMI (Jul) |
|
58.0 |
58.5 |
|
||
16:15 |
USD |
ADP Nonfarm Employment |
|
215K |
237K |
|
||
18:00 |
USD |
ISM Non-Manufacturing PMI |
|
56.2 |
56.0 |
|
||
Thursday, August 6, 2015 |
||||||||
05:30 |
AUD |
Employment Change (Jul) |
|
15.0K |
7.3K |
|
||
12:30 |
GBP |
Manufacturing Production |
|
0.2% |
-0.6% |
|
||
15:00 |
GBP |
Interest Rate Decision (Aug) |
|
0.50% |
0.50% |
|
||
Friday, August 7, 2015 |
||||||||
16:30 |
USD |
Nonfarm Payrolls (Jul) |
|
222K |
223K |
|
||
18:00 |
CAD |
Ivey PMI (Jul) |
|
53.0 |
55.9 |
|
||
Saturday, August 8, 2015 |
||||||||
06:00 |
CNY |
Trade Balance (Jul) |
|
|
46.54B |
|
||
Sunday, August 9, 2015 |
||||||||
06:00 |
CNY |
CPI (YoY) (Jul) |
|
|
1.4% |
|
||
Tuesday, August 11, 2015 |
||||||||
13:00 |
EUR |
German ZEW Economic |
|
|
29.7 |
|
||
Wednesday, August 12, 2015 |
||||||||
09:30 |
CNY |
Industrial Production (YoY) (Jul) |
|
|
6.8% |
|
||
12:30 |
GBP |
Average Earnings Index +Bonus |
|
|
3.2% |
|
||
12:30 |
GBP |
Claimant Count Change (Jul) |
|
|
7.0K |
|
||
Thursday, August 13, 2015 |
||||||||
16:30 |
USD |
Core Retail Sales (MoM) (Jul) |
|
0.4% |
-0.1% |
|
||
Friday, August 14, 2015 |
||||||||
10:00 |
EUR |
German GDP (QoQ) (Q2) |
|
|
0.3% |
|
||
13:00 |
EUR |
CPI (YoY) (Jul) |
|
|
0.2% |
|
||
16:30 |
USD |
PPI (MoM) (Jul) |
|
0.2% |
0.4% |
|
||
Tuesday, August 18, 2015 |
||||||||
12:30 |
GBP |
CPI (YoY) (Jul) |
|
|
|
|
||
Thursday, August 20, 2015 |
||||||||
12:30 |
GBP |
Retail Sales (MoM) (Jul) |
|
|
-0.2% |
|
||
Friday, August 21, 2015 |
||||||||
16:30 |
CAD |
Core CPI (MoM) (Jul) |
|
|
|
|
||
16:30 |
CAD |
Core Retail Sales (MoM) (Jun) |
|
|
0.9% |
|
||
Monday, August 31, 2015 |
||||||||
|
Holiday |
United Kingdom – Summer Bank Holiday |