By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 95.20 as the euro once again begins drifting lower against the JPY. Once ECB President Draghi began his statement yesterday, almost instantly traders knew that the speaker was going to be added to the long list of EU politicians who offer grand plans and just cannot deliver actual results.
As Mr. Draghi spoke, markets turned and sentiment turned from hopeful to negative and the euro began to collapse from trading at the 1.24 level earlier in the day, it fell to trade in the mid 1.21 price level, just about where it was before Mr. Draghi lifted market spirits a week ago.
Traders returned to their anti european stance, and also back to risk aversion pushing the JPY to new strenghts.
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 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 03 |
AUD |
AIG Services Index |
46.5 |
48.8 |
|
|
CNY |
Chinese Non-Manufacturing PMI |
55.60 |
56.70 |
||
|
CNY |
Chinese HSBC Services PMI |
53.10 |
52.30 |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 6 |
1:30 |
AUD |
ANZ Job Advertisements m/m |
-1.2% |
|
|
22:45 |
NZD |
Labor Cost Index q/q |
0.5% |
||
|
Aug 7 |
4:30 |
AUD |
Cash Rate |
3.50% |
3.50% |
|
4:30 |
AUD |
RBA Rate Statement |
|||
|
23:50 |
JPY |
Current Account |
0.28T |
||
|
Aug 8 |
1:30 |
AUD |
Home Loans m/m |
-1.2% |
|
|
12:30 |
USD |
Prelim Nonfarm Productivity q/q |
-0.9% |
||
|
12:30 |
USD |
Prelim Unit Labor Costs q/q |
1.3% |
||
|
14:30 |
USD |
Crude Oil Inventories |
|||
|
22:45 |
NZD |
Employment Change q/q |
0.4% |
||
|
22:45 |
NZD |
Unemployment Rate |
6.7% |
||
|
23:50 |
JPY |
Core Machinery Orders m/m |
-14.8% |
||
|
Aug 9 |
1:30 |
AUD |
Employment Change |
-27.0K |
|
|
1:30 |
AUD |
Unemployment Rate |
5.2% |
||
|
12:30 |
USD |
Trade Balance |
-48.7B |
||
|
12:30 |
USD |
Unemployment Claims |
|||
|
Aug 10 |
1:30 |
AUD |
RBA Monetary Policy Statement |
||
|
12:30 |
USD |
Import Prices m/m |
-2.7% |
||
|
18:00 |
USD |
Federal Budget Balance |
-59.7B |
Click here to read EUR/JPY Technical Analysis.
Originally posted here
