By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY continues to move up trading this morning at 97.17 as the euro remains strong in the market place. With the ECB gaining more and more support from the EU and from global traders and economists, the euro continues to gain. Thus pressuring the JPY.
In Japan today, Core Machinery orders fell well below forecast and the Bank of Japan as expected held rates and policy.
As markets move away from risk aversion mode, the JPY crosses are showing strength across the board, except the USD.
Chinese data will have a large role to play in this pair, this morning released were mixed as CPI reported better than forecast and PPI below. Trade balance should be released later today and then tomorrow the rest of July’s eco numbers.
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Economic Data August 9, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 09 |
JPY |
Core Machinery Orders (MoM) |
5.6% |
10.9% |
-14.8% |
|
AUD |
Employment Change |
14.0K |
10.0K |
-28.3K |
|
|
AUD |
Unemployment Rate |
5.2% |
5.3% |
5.3% |
|
|
CNY |
Chinese CPI (YoY) |
1.8% |
1.7% |
2.2% |
|
|
CNY |
Chinese PPI (YoY) |
-2.9% |
-2.5% |
-2.1% |
|
|
CNY |
Chinese CPI (MoM) |
0.1% |
-0.1% |
-0.6% |
|
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 10 |
1:30 |
AUD |
||
|
12:30 |
USD |
-2.7% |
||
|
18:00 |
USD |
-59.7B |
Government Bond Auctions
Date Time Country
Aug 10 10:00 Belgium
Aug 13 09:10 Italy
Aug 13 09:10 Norway
Aug 13 09:30 Germany
Aug 14 09:10 Greece
Aug 14 09:10 Italy
Aug 14 09:30 Belgium
Aug 14 14:30 UK
Click here to read EUR/JPY Technical Analysis.
Originally posted here
