By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 97.32 dipping a bit in Asian trading as the euro lost of bit of momentum. There is no significant cause for the euro to dip, except that it had moved to high to quickly and this is simply a market adjustment.
Greece seems to be coming together nicely, Spain seems to be coming under control and Italy seems to be surviving. Traders have now begun to support Draghi’s policies and actions and are supporting him and the ECB. German is endorsing the actions of the ECB.
The JPY has weakened elsewhere as political turmoil weighs on the currency.
Markets will wait for the main event, on Thursday and Friday when a slew of Chinese data is released. Otherwise there is little in the way of eco data.
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 8, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 08 |
JPY |
Adjusted Current Account |
0.77T |
0.75T |
0.28T |
|
JPY |
Bank Lending (YoY) |
0.7% |
0.6% |
||
|
PHP |
Philippines CPI (MoM) |
0.30% |
0.30% |
0.50% |
|
|
AUD |
Home Loans (MoM) |
1.3% |
2.0% |
-0.9% |
|
|
KRW |
South Korean M2 Money supply |
9.60% |
9.20% |
||
|
MYR |
Malaysian Trade Balance |
9.20B |
5.20B |
4.60B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 9 |
1:30 |
AUD |
-27.0K |
|
|
1:30 |
AUD |
5.2% |
||
|
12:30 |
USD |
-48.7B |
||
|
12:30 |
USD |
|||
|
Aug 10 |
1:30 |
AUD |
||
|
12:30 |
USD |
-2.7% |
||
|
18:00 |
USD |
-59.7B |
Government Bond Auctions
Date Time Country
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Aug 13 09:10 Italy
Aug 13 09:10 Norway
Aug 13 09:30 Germany
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 to read EUR/JPY Technical Analysis.
Originally posted here
