By FXEmpire.com
Analysis and Recommendation:
The NZD/USD soared by .0060 to trade at 0.7948 after an announcement from the EU Finance Ministers on the introduction of the EU Banking Supervision Plan. Markets welcomed the news and pushed the euro up by almost 2 cents weakening the greenback and allowing its trading partners to gain.
The EcoFin Summit is all it promised to be, grand theatrics, lots of news and press coverage and huge market volatility.
At this moment Spain and Italy are trying to blackmail the EU, sounds like the stuff from a great fictional novel. Somewhere along the way, Belgium mentioned the need for a bailout and Italy seems to be negotiating for one also. Seems the in thing in the EU needs bailout money, under the guise of anything else.
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 up to the data analysis and information in our weekly reports.
Economic Data June 29, 2012 actual v. forecast ( eventful morning )
|
Currency |
Event |
Actual |
Forecast |
Previous |
|
KRW |
South Korean Industrial Production (MoM) |
1.1% |
0.2% |
0.9% |
|
JPY |
Manufacturing PMI |
49.9 |
50.7 |
|
|
JPY |
Unemployment Rate |
4.4% |
4.6% |
4.6% |
|
JPY |
Tokyo Core CPI (YoY) |
-0.6% |
-0.7% |
-0.8% |
|
JPY |
National Core CPI (YoY) |
-0.1% |
0.1% |
0.2% |
|
JPY |
Household Spending (YoY) |
4.0% |
2.4% |
2.6% |
|
JPY |
Industrial Production (MoM) |
-3.1% |
-2.8% |
-0.2% |
|
AUD |
Private Sector Credit (MoM) |
0.5% |
0.5% |
0.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 02 |
00:00 |
KRW |
South Korean CPI (YoY) |
2.5% |
2.5% |
|
|
00:00 |
KRW |
South Korean CPI (MoM) |
0.2% |
0.2% |
||
|
00:50 |
JPY |
Tankan Large Manufacturers Index |
-4 |
-4 |
||
|
07:30 |
INR |
Indian Trade Balance |
-13.5B |
|||
|
10:00 |
EUR |
Unemployment Rate |
11.1% |
11.0% |
||
|
15:00 |
USD |
ISM Manufacturing Index |
52.5 |
53.5 |
||
|
Jul. 03 |
02:30 |
AUD |
Building Approvals (MoM) |
5.1% |
-8.7% |
|
|
05:30 |
AUD |
Interest Rate Decision |
3.50% |
3.50% |
Click here for updated NZD/USD News.
Originally posted here
