By FXEmpire.com
Analysis and Recommendation:
The USD/JPY continues to see the JPY out power the USD trading at 78.45 coming closer and closer to that all important 78.00 levels.
The euro tumbled overnight amid fears that debt-riddled Greece may leave the eurozone and Spain’s banking troubles could require an international rescue.
The euro was at Y97 in early Asian trade, after falling to Y96.51 in New York, the lowest level since December 2000.
The common currency bought $1.2354 against $1.2361 in New York late on Thursday. The dollar was at Y78.50 against 78.33.
Risk aversion continues as the main market theme.
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 up to the data analysis and information in our weekly reports.
Economic Data May 31- June 1, 2012 actual v. forecast
|
08:55 |
EUR |
German Unemployment Rate |
6.7% |
6.8% |
6.8% |
|
|
08:55 |
EUR |
German Unemployment Change |
0K |
-5K |
18K |
|
|
10:00 |
EUR |
CPI (YoY) |
2.4% |
2.5% |
2.6% |
|
|
13:15 |
USD |
ADP Nonfarm Employment Change |
133K |
148K |
113K |
|
|
13:30 |
Current Account |
-10.3B |
-11.0B |
-9.7B |
||
|
13:30 |
USD |
Initial Jobless Claims |
383K |
370K |
373K |
|
|
13:30 |
USD |
GDP (QoQ) |
1.9% |
1.9% |
2.2% |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3242K |
3250K |
3278K |
|
|
14:45 |
USD |
Chicago PMI |
52.7 |
56.5 |
56.2 |
|
|
Jun. 01 |
00:00 |
KRW |
South Korean CPI (YoY) |
2.5% |
2.5% |
2.5% |
|
00:50 |
JPY |
Capital Spending |
3.30% |
1.30% |
7.60% |
|
|
02:00 |
CNY |
Chinese Manufacturing PMI |
50.40 |
52.20 |
53.30 |
|
|
03:30 |
CNY |
Chinese HSBC Manufacturing PMI |
48.40 |
48.70 |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Forecast |
Previous |
|
Jun 4 |
1:30 |
AUD |
ANZ Job Advertisements m/m |
-3.1% |
|
1:30 |
AUD |
Company Operating Profits q/q |
-6.5% |
|
|
14:00 |
USD |
Factory Orders m/m |
-1.5% |
|
|
23:30 |
AUD |
AIG Services Index |
39.6 |
|
|
Jun 5 |
1:30 |
AUD |
Current Account |
-8.4B |
|
4:30 |
AUD |
Cash Rate |
3.75% |
3.75% |
|
4:30 |
AUD |
RBA Rate Statement |
||
|
14:00 |
USD |
ISM Non-Manufacturing PMI |
53.5 |
|
|
Jun 6 |
1:30 |
AUD |
GDP q/q |
0.4% |
|
12:30 |
USD |
Revised Nonfarm Productivity q/q |
-0.5% |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
18:00 |
USD |
Beige Book |
||
|
Jun 7 |
1:30 |
AUD |
Employment Change |
4.9% |
|
1:30 |
AUD |
Unemployment Rate |
15.5K |
|
|
12:30 |
USD |
Unemployment Claims |
383K |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
||
|
23:50 |
JPY |
Current Account |
0.79T |
|
|
23:50 |
JPY |
Final GDP q/q |
1.0% |
|
|
Jun 8 |
1:30 |
AUD |
Trade Balance |
-1.59B |
|
1:30 |
AUD |
Home Loans m/m |
0.3% |
|
|
12:30 |
USD |
Trade Balance |
-51.8B |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
Government Bond Auctions
Date Time Country
May 31 14:30 Sweden
Jun 04 10:00 Norway
Jun 05 00:30 Japan
Jun 05 09:30
Jun 05 14:30 Sweden
Jun 06 09:30 Germany
Jun 06 09:30 Portugal
Jun 06 14:30 UK
Jun 07 00:30 Japan
Jun 07 08:30 Spain
Jun 07 08:50 France
Jun 07 09:10 Sweden
Jun 07 15:00 US
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Click here to read USD/JPY Technical Analysis.
Originally posted here
