By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 79.34 within the range that is has been during this risk aversion cycle. The pair makes little gains and losses in response to eco data, but more on the momentum of the USD.
In Japan today the month eco data was released, some extremely positive and some slightly negative. The unemployment rate fell unexpectedly and the Tokyo Core CPI climbed where as the national declined. Household spending skyrocketed while industrial production collapsed.
While in the US unemployment numbers were slightly off of forecast, but GDP climbed back to 2%
This morning the EU announced a new compressive Banking Supervisory Plan, which was hailed by investors pushing the euro up almost 2 cents within minutes, but having little effect on this pair.
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 USD/JPY News.
Originally posted here
