By FXEmpire.com
Analysis and Recommendations:
The EUR/JPY is trading at 99.31 having fallen 0.05% in a very quiet calm trading day. The euro continues to be weak against most of its trading partners as euro sentiment remains negative.
Markets are trading fairly flat to start the day. Not much is happening in the currency space, with the DXY flat, EURUSD flat, CAD flat and AUD flat. Equities in Asia traded mixed, with the Nikkei higher (+0.77%) and Shanghai slightly lower (-0.23%).
European equities are trading with a slightly positive bias. Commodities are generally weaker with the CRB index down 0.3%.WTI for settlement in August is trading at US$79.20 while the Brent August future is trading at US$92.50. Safe haven bond yields are moderately higher, with US, German and for those matter Canadian 10-years higher between 2-5bps. While Italy’s bond yields are more-or-less unchanged on the day, yields at the front end of the Spanish curve have shot up after the Spanish government said that financial markets are essentially closed to Spain.
New Zealand’s trade balance came in at NZD +0.35b in May, a shade lower than the previous month (NZD +0.33bn in April). The very similar number obscures a solid increase in volumes: export volumes increased by NZD 500m and import values increased by 600m. While New Zealand’s trade situation is slipping compared to last year (the deficit of NZD 805m YTD is weaker than last year’s June deficit of NZD541), it’s worth noting that at least it is weaker on higher volumes of imports and exports (i.e. higher output and higher consumption), as opposed to lower volumes as we are seeing elsewhere.
There was little in the way from Japan to support the yen, it is simply overall market sentiment.
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 Releases for June 26, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
||
|
Jun. 27 |
EUR |
German Import Price Index (MoM) |
-0.7% |
-0.7% |
-0.5% |
||
|
EUR |
Spanish Retail Sales (YoY) |
-4.9% |
-8.2% |
-10.0% |
|||
|
EUR |
Italian Business Confidence |
88.9 |
85.5 |
86.6 |
|||
|
NOK |
Norwegian Unemployment Rate |
3.00% |
3.00% |
3.00% |
|||
|
GBP |
BBA Mortgage Approvals |
30.2K |
32.8K |
32.1K |
|||
|
EUR |
Italian 6-Month BOT Auction |
2.957% |
2.104% |
||||
|
GBP |
CBI Distributive Trades Survey |
42 |
10 |
21 |
|||
|
USD |
MBA Mortgage Applications |
-7.1% |
-0.8% |
||||
|
EUR |
German CPI (MoM) |
-0.1% |
0.0% |
-0.2% |
|||
|
EUR |
German CPI (YoY) |
1.7% |
1.8% |
1.9% |
|||
|
USD |
Core Durable Goods Orders (MoM) |
0.4% |
0.7% |
-0.6% |
|||
|
USD |
Durable Goods Orders (MoM) |
1.1% |
0.4% |
-0.2% |
|||
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 28 |
1:00 |
NZD |
27.1 |
|
|
Jun 29 |
12:30 |
USD |
||
|
12:30 |
USD |
1.9% |
||
|
22:45 |
NZD |
-7.2% |
||
|
23:30 |
JPY |
2.6% |
||
|
23:30 |
JPY |
-0.8% |
||
|
23:50 |
JPY |
-0.2% |
||
|
1:30 |
AUD |
0.4% |
||
|
12:30 |
USD |
0.1% |
||
|
12:30 |
USD |
0.3% |
||
|
13:45 |
USD |
52.7 |
||
|
13:55 |
USD |
74.1 |
Click here a current EUR/JPY Chart.
Originally posted here
