By FXEmpire.com

Analysis and Recommendations:

The EUR/JPY is trading at 97.22 coming off of record lows of just last week around 94.00. The euro has managed to gain momentum as investors have become more confident of the ECB stand and its move forward. Draghi did not give into pressures last week at the ECB meeting but is moving forward with undisclosed bank plans to secure the EU and to bring down borrowing rates for Spain and Italy.

The Japanese yen remains strong but with less risk aversion in the markets and the Bank of Japan meeting this week, the JPY has dipped against the euro.

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 6, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 06

AUD

MI Inflation Gauge (MoM)

0.2%

-0.2%

TWD

Taiwanese CPI (YoY)

2.46%

2.02%

1.77%

AUD

ANZ Job Advertisements (MoM)

-0.80%

-1.10%

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

Date

Time

Currency

Event

Forecast

Previous

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

Government Bond Auctions

Date Time Country

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 updated EUR/JPY News.

Originally posted here