By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading up at 100.33 as European markets close for the day. US markets will close early today and be closed on Wednesday for the US holiday.
JPY is weaker, down 0.4% from yesterday’s close as market participants reverse safe haven flows in favor of risk assets. The shift is being driven by expectations of wide-spread easing from central banks, given yesterday’s PMI data that underlined the global nature of the recent deceleration in growth. Whereas the euro continues to climb as the expectations that the ECB will reduce rates at its meeting on Friday.
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 2 – 3, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul 2 |
USD |
ISM Manufacturing PMI |
49.7 |
52.1 |
53.5 |
|
AUD |
Building Approvals m/m |
27.3% |
5.1% |
-7.6% |
|
|
JPY |
Average Cash Earnings y/y |
-0.8% |
0.6% |
0.2% |
|
|
AUD |
Cash Rate |
3.50% |
3.50% |
3.50% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 4 |
1:30 |
AUD |
0.3% |
-0.2% |
|
|
Jul 5 |
1:30 |
AUD |
-0.51B |
-0.20B |
|
|
12:15 |
USD |
101K |
133K |
||
|
12:30 |
USD |
385K |
386K |
||
|
14:00 |
USD |
53.1 |
53.7 |
||
|
15:00 |
USD |
-0.1M |
|||
|
Jul 6 |
12:30 |
USD |
92K |
69K |
|
|
12:30 |
USD |
8.2% |
8.2% |
Click here for further EUR/JPY Forecast.
Originally posted here
