By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY declined at 94.82 as the pair remain close to record lows. The euro was able to gain a bit of momentum against the USD but not against the JPY which remains strong regardless of comments and threats by the BoJ and the MoF. Markets remain in risk aversion theme and the currency of choice remains the JPY.
With negative housing data released in the US yesterday, the likelihood of stimulus from the Fed’s at their August 1st meeting becomes an odds on favorite, weakening the USD and supporting the JPY, which leaves this pair hanging out to dry.
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 26, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 26 |
KRW |
South Korean GDP (QoQ) |
0.4% |
0.5% |
0.9% |
|
KRW |
South Korean GDP (YoY) |
2.4% |
2.6% |
2.8% |
|
|
JPY |
CSPI (YoY) |
-0.3% |
0.0% |
0.1% |
|
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
SGD |
Singaporean Industrial Production (YoY) |
7.6% |
3.2% |
6.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 27 |
12:30 |
USD |
1.9% |
|
|
13:55 |
USD |
72.0 |
Click here for further EUR/JPY Forecast.
Originally posted here
