By FXEmpire.com
Analysis and Recommendation:
The USD/JPY remains in a tight channel in the mid 79 price range, as risk aversion remains high and negative eco data from both countries weakens their value.
The US is still getting over negative jobs data released on Friday, as two Fed members said this weekend that they would support additional monetary stimulus.
In Japan, machinery orders collapsed last month, along with a slew of negative eco data from China. (See chart below)
This pair is expected to remain in this range.
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 July 9-10, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 09 |
JPY |
Adjusted Current Account |
0.28T |
0.42T |
0.29T |
|
CNY |
Chinese CPI (YoY) |
2.2% |
2.3% |
3.0% |
|
|
CNY |
Chinese PPI (YoY) |
-2.1% |
-1.9% |
-1.4% |
|
|
CNY |
Chinese CPI (MoM) |
-0.6% |
-0.3% |
-0.3% |
|
|
CHF |
Unemployment Rate |
2.9% |
3.2% |
2.9% |
|
|
EUR |
ECB President Draghi Speaks |
||||
|
NZD |
NZIER Business Confidence |
-4 |
13 |
||
|
Jul. 10 |
GBP |
RICS House Price Balance |
-22% |
-16% |
-17% |
|
AUD |
NAB Business Confidence |
-3 |
-2 |
||
|
CNY |
Chinese Trade Balance |
31.73B |
21.00B |
18.70B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 11 |
0:30 |
AUD |
0.3% |
|
|
1:30 |
AUD |
0.2% |
||
|
12:30 |
USD |
-50.1B |
||
|
14:30 |
USD |
-4.3M |
||
|
Jul 12 |
1:00 |
AUD |
2.3% |
|
|
1:30 |
AUD |
38.9K |
||
|
1:30 |
AUD |
5.1% |
||
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Click here for updated USD/JPY News.
Originally posted here
