Analysis and Recommendations:

The EUR/JPY dipped a bit after the JPY regained its momentum. The euro remains positive as traders have had time to review and rethink their disappointment over comments by the ECB and are now moving to support Draghi’s moves, which is supporting the euro.

The Bank of Japan will conclude their rate and policy meeting tomorrow, although little is expected. The yen is bringing 78.27 in this morning’s session

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 August 7, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 07

GBP

BRC Retail Sales Monitor (YoY)

0.1%

-0.2%

1.4%

AUD

AIG Construction Index

32.6

34.8

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Previous

Aug 8

1:30

AUD

Home Loans m/m

-1.2%

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

22:45

NZD

Employment Change q/q

0.4%

22:45

NZD

Unemployment Rate

6.7%

23:50

JPY

Core Machinery Orders m/m

-14.8%

Aug 9

1:30

AUD

Employment Change

-27.0K

1:30

AUD

Unemployment Rate

5.2%

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

1:30

AUD

RBA Monetary Policy Statement

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date Time Country

Aug 08 09:30 Germany

Aug 08 10:00 Norway

Aug 08 15:30 Italy

Aug 08 17:00 US

Aug 09 15:30 Italy

Aug 09 17:00 US

Aug 10 10:00 Belgium

Aug 13 09:10 Italy

Aug 13 09:10 Norway

Aug 13 09:30 Germany

Click here a current EUR/JPY Chart.

Originally posted here