By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 78.13 in a tight range since the end of last week. Yesterday, the Prime Minister and the Governor of the Bank of Japan met to discuss the current implications of the Fx value of the JPY. Also the MoF warned markets again of intervention.
Today the Japanese trade balance was released showing an improvement in June to a very lopsided report due to the recovery from the tsunami and the need to import energy products.
As investors turn up the risk aversion theme of the markets on further downgrades of the EU and now of the EFSF, it is difficult as the yen is the primary beneficiary of safe haven movement.
As Greece continues to wreck havoc in the EU and Spain’s mounting debt looks too big to conquer traders are wondering what the EU will do, now that its back is against the wall.
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 24 – 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
French Flash Manufacturing PMI |
43.6 |
45.6 |
45.2 |
|
|
EUR |
French Flash Services PMI |
50.2 |
47.7 |
47.9 |
|
|
EUR |
German Flash Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
|
EUR |
German Flash Services PMI |
49.7 |
50.1 |
49.9 |
|
|
EUR |
Flash Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
|
EUR |
Flash Services PMI |
47.6 |
47.3 |
47.1 |
|
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
|
Core Retail Sales m/m |
0.5% |
0.1% |
-0.4% |
||
|
USD |
Flash Manufacturing PMI |
51.8 |
52.1 |
52.5 |
|
|
NZD |
Trade Balance |
331M |
77M |
232M |
|
|
JPY |
Trade Balance |
-0.30T |
-0.39T |
-0.62T |
|
|
Jul 25 |
AUD |
CB Leading Index m/m |
0.4% |
-1.3% |
|
|
AUD |
CPI q/q |
0.5% |
0.6% |
0.1% |
|
|
AUD |
Trimmed Mean CPI q/q |
0.5% |
0.6% |
0.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 26 |
0:10 |
JPY |
||
|
12:30 |
USD |
0.7% |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
23:30 |
JPY |
-0.6% |
||
|
23:50 |
JPY |
3.6% |
||
|
Jul 27 |
12:30 |
USD |
1.9% |
|
|
13:55 |
USD |
72.0 |
Click here for further AUD/USD Forecast.
Originally posted here
