By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 95.92 continuing to decline. After moving off a low earlier last week, to trade back near the 96.00 price level, the pair have once again begun to tumble, as the JPY remains strong in risk aversion mode and the euro continues to have weakness as investors and speculators are waiting to see if the ECB can deliver on their promises.
If the past dictates the future, we will witness market disappointment with lack of action. On June 29th the EU Ministers announced their big bank plan, which petered out. A few months prior they announced their fiscal union, which is on the back burner, on July 9th, Finance Ministers from the Eurogroup left their summit with no actual success or deliverance of prior promises. Now we will wait for the ECB and Draghi’s powerful tools.
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 1, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|||||||||
|
Aug. 01 |
KRW |
South Korean CPI (YoY) |
1.5% |
2.0% |
2.2% |
|||||||||
|
KRW |
South Korean CPI (MoM) |
-0.2% |
0.3% |
-0.1% |
||||||||||
|
GBP |
BRC Shop Price Index (YoY) |
1.00% |
1.10% |
|||||||||||
|
AUD |
AIG Manufacturing Index |
40.3 |
47.2 |
|||||||||||
|
KRW |
South Korean Trade Balance |
2.70B |
4.90B |
|||||||||||
|
KRW |
South Korean Manufacturing PMI |
47.20 |
49.38 |
|||||||||||
|
CNY |
Chinese Manufacturing PMI |
50.10 |
50.30 |
50.20 |
||||||||||
|
AUD |
House Price Index (QoQ) |
0.50% |
-0.50% |
-0.10% |
||||||||||
|
CNY |
Chinese HSBC Manufacturing PMI |
49.50 |
49.50 |
|||||||||||
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 2 |
1:30 |
AUD |
0.5% |
|
|
1:30 |
AUD |
-0.29B |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
0.7% |
||
|
23:30 |
AUD |
48.8 |
||
|
Aug 3 |
12:30 |
USD |
80K |
|
|
12:30 |
USD |
8.2% |
||
|
12:30 |
USD |
0.3% |
||
|
14:00 |
USD |
52.1 |
Government Bond Auctions
Date Time Country
Aug 02 08:30 Spain
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
