By FXEmpire.com
Introduction: This is one of the most popular crosses. The primary reason why EUR/JPY has rallied 11 percent over the past 3.5 months is because of US growth – not many people realize that the price action of EUR/JPY is directly correlated with how the US economy is doing.
Weekly Analysis and Recommendations:
The EUR/JPY moved off its record lows of earlier this month, to reach as high as 97.40. As the euro dipped throughout the week so did this pair. The JPY remained strong, holding it price as risk aversion remained the overall market theme.
|
Date |
Open |
High |
Low |
Change % |
|
|
Aug 03, 2012 |
97.21 |
95.27 |
97.40 |
95.03 |
2.03% |
|
Aug 02, 2012 |
95.27 |
95.93 |
96.97 |
94.93 |
-0.69% |
|
Aug 01, 2012 |
95.93 |
96.04 |
96.46 |
95.71 |
-0.12% |
|
Jul 31, 2012 |
96.04 |
95.79 |
96.28 |
95.77 |
0.26% |
|
Jul 30, 2012 |
95.79 |
96.58 |
96.62 |
95.54 |
-0.82% |
As central banks around the globe announced their decision, the euro responded, paying little attention to eco data.
This coming week, markets may get back to fundamentals and the negative eco data seen in Japan last week and the overall poor data from the eurozone, might come into play
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
Major Economic Events for the week of Aug 30 – Jul 3 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul 31 |
NZD |
NBNZ Business Confidence |
15.1 |
12.6 |
|
|
AUD |
Building Approvals m/m |
-2.5% |
-14.6% |
27.0% |
|
|
USD |
CB Consumer Confidence |
65.9 |
61.5 |
62.7 |
|
|
Aug 1 |
USD |
ADP Non-Farm Employment Change |
163K |
121K |
172K |
|
USD |
ISM Manufacturing PMI |
49.8 |
50.3 |
49.7 |
|
|
Aug 2 |
AUD |
Retail Sales m/m |
1.0% |
0.6% |
0.8% |
|
AUD |
Trade Balance |
0.01B |
-0.36B |
-0.31B |
|
|
USD |
Unemployment Claims |
365K |
375K |
357K |
|
|
Aug 3 |
USD |
Non-Farm Employment Change |
163K |
101K |
64K |
|
USD |
Unemployment Rate |
8.3% |
8.2% |
8.2% |
|
|
USD |
ISM Non-Manufacturing PMI |
52.6 |
52.1 |
52.1 |
Historical: From 2010 to Present
Highest: 134.38 JPY on Jan 11, 2010
Average: 111.13 JPY over this period.
Lowest: 94.12 JPY on July 24, 2012
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 6 |
1:30 |
AUD |
ANZ Job Advertisements m/m |
-1.2% |
|
|
22:45 |
NZD |
Labor Cost Index q/q |
0.5% |
||
|
Aug 7 |
4:30 |
AUD |
Cash Rate |
3.50% |
3.50% |
|
4:30 |
AUD |
RBA Rate Statement |
|||
|
23:50 |
JPY |
Current Account |
0.28T |
||
|
Aug 8 |
1:30 |
AUD |
Home Loans m/m |
-1.2% |
|
|
12:30 |
USD |
Prelim Nonfarm Productivity q/q |
-0.9% |
||
|
12:30 |
USD |
Prelim Unit Labor Costs q/q |
1.3% |
||
|
14:30 |
USD |
Crude Oil Inventories |
|||
|
22:45 |
NZD |
Employment Change q/q |
0.4% |
||
|
22:45 |
NZD |
Unemployment Rate |
6.7% |
||
|
23:50 |
JPY |
Core Machinery Orders m/m |
-14.8% |
||
|
Aug 9 |
1:30 |
AUD |
Employment Change |
-27.0K |
|
|
1:30 |
AUD |
Unemployment Rate |
5.2% |
||
|
12:30 |
USD |
Trade Balance |
-48.7B |
||
|
12:30 |
USD |
Unemployment Claims |
|||
|
Aug 10 |
1:30 |
AUD |
RBA Monetary Policy Statement |
||
|
12:30 |
USD |
Import Prices m/m |
-2.7% |
||
|
18:00 |
USD |
Federal Budget Balance |
-59.7B |
Upcoming Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Aug 13 09:10 Italy
Aug 13 09:10 Norway
Aug 13 09:30 Germany
Aug 14 09:10 Greece
Aug 14 09:10 Italy
Aug 14 09:30 Belgium
Aug 14 14:30 UK
Aug 15 09:10 Sweden
Aug 16 09:30 UK
Aug 16 15:00 US
Click here a current EUR/JPY Chart.
Originally posted here
