By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY is maintaining its strength, trading at 79.83. The USD has shown incredible resilience against its trading partners except here. The yen, has seen a large movement to its safe harbor.
Even with markets showing mixed sentiment on the BoJ decisions in April, the recent flow has been pushing the yen to new strength.
Investors are beginning to wonder if the US has slipped into a spring stall again this year with eco data disappointing throughout April, the only bright spot was a ISM report showing that manufacturing was expanding.
Last week’s US jobs report showed that the US only created 120k new jobs when forecasts called for 170k. The US needs to create 200K per month average to remain even.
US markets are now looking for the Fed to come to their rescue
In other news, crude oil has dropped below the 100.00 price range to trade in the mid 96.00 which is a positive for the USD.
Investors in euro, are worried about the French new President and the future of the EU, as Mr. Hollande economic platform and reforms is quiet different than that of Germany’s Merkel and with the breakup of the Merkozy team, there might be new policy and new alliances forming in the eurozone.
|
AUD |
AIG Construction Index |
34.9 |
36.2 |
|
|
JPY |
Monetary Policy Meeting Minutes |
|||
|
TWD |
Taiwanese CPI (YoY) |
1.44% |
1.40% |
1.25% |
|
AUD |
Building Approvals (MoM) |
7.4% |
3.1% |
-8.8% |
|
AUD |
NAB Business Confidence |
4 |
3 |
|
|
AUD |
Retail Sales (MoM) |
0.9% |
0.2% |
0.3% |
|
AUD |
ANZ Job Advertisements (MoM) |
-3.10% |
0.70% |
|
|
IDR |
Indonesian GDP (YoY) |
6.3% |
6.3% |
6.5% |
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.1% |
Economic Events for May 8, 2012
00:01 GBP RICS House Price Balance -10% -10%
02:30 AUD Trade Balance -1.40B -0.48B
06:45 CHF GDP 0.1%
06:45 CHF SECO Consumer Climate -18 -19
13:15 CAD Housing Starts 202K 216K
Government Bond Auctions (this week)
Date Time Country
May 08 09:15 Austria
May 08 09:30 Belgium
May 08 14:30 UK
May 08 15:30 Italy
May 08 17:00 US
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Originally posted here
