By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 96.12 as the euro was able to gain some ground on the JPY before the ECB announcements later today.
ECB President Draghi, pledged last week to save the monetary union, this statement came without support, plans or actions and markets are now expecting Draghi to back up his pledge with actions.
Investors are expecting a small rate cut, additional monetary policy, additional liquidity and bond buying programs to support the failing EU economies.
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 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 02 |
JPY |
10-Year JGB Auction |
0.772% |
0.836% |
|
|
JPY |
Monetary Base (YoY) |
8.6% |
6.2% |
5.9% |
|
|
NZD |
ANZ Commodity Price Index (MoM) |
-0.5% |
-2.4% |
||
|
AUD |
Retail Sales (MoM) |
1.0% |
0.7% |
0.8% |
|
|
AUD |
Trade Balance |
0.01B |
-0.35B |
-0.31B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 3 |
12:30 |
USD |
Non-Farm Employment Change |
80K |
|
12:30 |
USD |
Unemployment Rate |
8.2% |
|
|
12:30 |
USD |
Average Hourly Earnings m/m |
0.3% |
|
|
14:00 |
USD |
ISM Non-Manufacturing PMI |
52.1 |
Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
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
Click here for further EUR/JPY Forecast.
Originally posted here
