By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 78.20. Yesterday the pair started to show some movement, with the US gaining a bit of momentum after the Fed’s withheld stimulus but after the ECB disappointed investors and markets turned, the USD remained strong as traders sentiment changed. Risk aversion returned in full swing with the yen the major benefactor.
The pair was holding close to the 78.50 price, with the USD gaining momentum, until things flipped around, as the US remained strong market movement changed.
Movement in JPY has remained relatively range bound over the past ten sessions, with a reluctance to move away from 78.20. Politicians appear to be split on recent proposals for the BoJ to embark on purchases of foreign bonds. Talk of such action has been brought up by a former BoJ Governor as well as a newly added BoJ Governing board member, in the hopes of driving yen weakness
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthlyanalysis 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 August 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 03 |
AUD |
AIG Services Index |
46.5 |
48.8 |
|
|
CNY |
Chinese Non-Manufacturing PMI |
55.60 |
56.70 |
||
|
CNY |
Chinese HSBC Services PMI |
53.10 |
52.30 |
Upcoming Economic Events that affect the AUD, NZD, JPY 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 |
Click here for updated USD/JPY News.
Originally posted here
