By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 94.32 in an early morning surprise the euro has traded up a touch, although this seems more like a bounce off the bottom as the pair are trading at historic lows.
Overnight Moody’s issued warning on the EFSF rating, which will at the minimum increase borrowing costs for the EU. Spain has requested a full bailout, but the question is, is this the right course, and where will the EU get this kind of money. Especially after Germany has been placed on a watch list to lose its AAA rating status over its exposure to Greece and the EU.
The JPY remains strong but has stabilized and is trading in a fairly limited range.
This morning the Japanese trade balance was released, showing a huge out of balance scenario but the June numbers were very positive. The out of balance ratio has been caused by the need for Japan to import energy since the tsunami.
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 24 – 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
French Flash Manufacturing PMI |
43.6 |
45.6 |
45.2 |
|
|
EUR |
French Flash Services PMI |
50.2 |
47.7 |
47.9 |
|
|
EUR |
German Flash Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
|
EUR |
German Flash Services PMI |
49.7 |
50.1 |
49.9 |
|
|
EUR |
Flash Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
|
EUR |
Flash Services PMI |
47.6 |
47.3 |
47.1 |
|
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
|
Core Retail Sales m/m |
0.5% |
0.1% |
-0.4% |
||
|
USD |
Flash Manufacturing PMI |
51.8 |
52.1 |
52.5 |
|
|
NZD |
Trade Balance |
331M |
77M |
232M |
|
|
JPY |
Trade Balance |
-0.30T |
-0.39T |
-0.62T |
|
|
Jul 25 |
AUD |
CB Leading Index m/m |
0.4% |
-1.3% |
|
|
AUD |
CPI q/q |
0.5% |
0.6% |
0.1% |
|
|
AUD |
Trimmed Mean CPI q/q |
0.5% |
0.6% |
0.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 26 |
0:10 |
JPY |
||
|
12:30 |
USD |
0.7% |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
23:30 |
JPY |
-0.6% |
||
|
23:50 |
JPY |
3.6% |
||
|
Jul 27 |
12:30 |
USD |
1.9% |
|
|
13:55 |
USD |
72.0 |
Click here for updated EUR/JPY News.
Originally posted here
