By FXEmpire.com

Analysis and Recommendations:

The EUR/JPY is trading at 96.27 with the euro gaining this morning. The euro held fairly steady over the weekend and remains a bit under the 1.23 price against the USD. In Japan this morning, the quarterly and annual GDP numbers were released. Both came in well under forecast with QoQ tumbling to 0.2%, when markets were forecasting 0.6% and the previous quarter was at 1.3%. The Japanese economy is in trouble, last month most of the data out of Japan was negative. The Bank of Japan last week held rates and policies offering no assistance to the failing economy.

The euro continues to be supported by hopes of action by Mr. Draghi and the ECB.

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 13, 2012 actual v. forecast

Date

Time

Currency

Importance

Event

Actual

Forecast

Previous

Aug. 13

00:50

JPY

GDP (QoQ)

0.3%

0.6%

1.3%

00:50

JPY

GDP Price Index (YoY)

-1.1%

-0.8%

-1.3%

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

Date

Time

Currency

Event

Previous

Aug 14

1:30

AUD

NAB Business Confidence

-3

1:30

AUD

New Motor Vehicle Sales m/m

-0.6%

12:30

USD

Core Retail Sales m/m

-0.4%

12:30

USD

PPI m/m

0.1%

12:30

USD

Retail Sales m/m

-0.5%

14:00

USD

Business Inventories m/m

0.3%

Aug 15

0:30

AUD

Westpac Consumer Sentiment

3.7%

1:30

AUD

Wage Price Index q/q

0.9%

12:30

USD

Core CPI m/m

0.2%

12:30

USD

Empire State Manufacturing Index

7.4

13:00

USD

TIC Long-Term Purchases

55.0B

13:15

USD

Capacity Utilization Rate

78.9%

13:15

USD

Industrial Production m/m

0.4%

14:30

USD

Crude Oil Inventories

Aug 16

1:00

AUD

MI Inflation Expectations

3.3%

12:30

USD

Building Permits

0.76M

12:30

USD

Housing Starts

0.76M

14:00

USD

Philly Fed Manufacturing Index

-12.9

22:45

NZD

PPI Input q/q

0.3%

Aug 17

13:55

USD

Prelim UoM Consumer Sentiment

72.3

Government Bond Auctions

Date Time Country

Aug 14 09:10 Greece

Aug 14 09:10 Italy

Aug 14 09:30 Belgium

Aug 14 14:30 UK

Aug 15 09:10 Sweden

Aug 16 09:30 UK

Aug 16 15:00 US

Click here for further EUR/JPY Forecast.

Originally posted here