EUR/JPY Fundamental Analysis July 11, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

The EUR/JPY remained under the 100.00 level trading at 97.77 as the euro continues to sink against most of its trading partners. With little results from the Eurogroup and ongoing worries about the EU crisis, contagion and its effects on the global markets, investors worries increase as they are now eyeing global economies with less focus just on the EU.

Chinese data continued to disturb the markets with two days of negative eco data, along with a huge drop in machinery orders in Japan. (See chart below).

Global growth or the lack thereof becomes the main focus.

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 July 9-10, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Jul. 09	JPY	Adjusted Current Account	0.28T	0.42T	0.29T
CNY	Chinese CPI (YoY)	2.2%	2.3%	3.0%
CNY	Chinese PPI (YoY)	-2.1%	-1.9%	-1.4%
CNY	Chinese CPI (MoM)	-0.6%	-0.3%	-0.3%
CHF	Unemployment Rate	2.9%	3.2%	2.9%
EUR	ECB President Draghi Speaks
NZD	NZIER Business Confidence	-4	13
Jul. 10	GBP	RICS House Price Balance	-22%	-16%	-17%
AUD	NAB Business Confidence	-3	-2
CNY	Chinese Trade Balance	31.73B	21.00B	18.70B

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

Date	Time	Currency	Event	Previous
Jul 11	0:30	AUD	Westpac Consumer Sentiment	0.3%
	1:30	AUD	Home Loans m/m	0.2%
	12:30	USD	Trade Balance	-50.1B
	14:30	USD	Crude Oil Inventories	-4.3M
Jul 12	1:00	AUD	MI Inflation Expectations	2.3%
	1:30	AUD	Employment Change	38.9K
	1:30	AUD	Unemployment Rate	5.1%
	12:30	USD	Unemployment Claims
	12:30	USD	Import Prices m/m	-1.0%
	18:00	USD	Federal Budget Balance	-124.6B
Jul 13	12:30	USD	PPI m/m	-1.0%
	13:55	USD	Prelim UoM Consumer Sentiment	73.2

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Originally posted here