By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY declined to trade at 97.99 on Tuesday morning. The EUR/JPY cross is in a struggle as the Euro slightly bounces from recent downside in the FX market while the Japanese Yen strengthens since the US session on a wave of “risk off” sentiment.
The ECB fully rejected Der Spiegel’s report about the plan to cap yields in the Spanish and Italian bond markets, and German officials also criticized the idea if to be true. As expected, the ECB didn’t buy any bonds last week. The euro has been trading stronger against the USD. The EUR/JPY is currently moving in the same relative terms as the EUR/USD since the greenback is trading sideways against the Japanese Yen. The Euro is on the move, downwardly, as rumors about the ECB’s plan to cap yields in the Spanish and Italian bond markets, meaning unlimited buying, are being rejected by the central bank itself, after previous German denials.
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 21, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 21 |
AUD |
Monetary Policy Meeting Minutes |
|||
|
NZD |
Credit Card Spending (YoY) |
0.1% |
3.9% |
||
|
NZD |
Inflation Expectations (QoQ) |
2.3% |
2.4% |
||
|
JPY |
All Industries Activity Index (MoM) |
0.2% |
0.3% |
-0.2% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Aug. 22 |
00:50 |
JPY |
Trade Balance |
-0.46T |
-0.30T |
|
15:00 |
USD |
4.52M |
4.37M |
||
|
19:00 |
USD |
FOMC Meeting Minutes |
Click here for updated EUR/JPY News.
Originally posted here
