By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 79.76 as the USD continues to push the pair to the 80.00 price level. The move from risk aversion on Friday, investors looking at commodities and equities as they skyrocketed.
Continued worries about Prime Minister Noda’s government coalition keep the yen under pressure.
Japanese eco data is been pretty mixed as the month ended, and this morning, the Bank of Japan reported that its Tankan Manufacturing index rose to a seasonally adjusted -1 in the second quarter from -4 in the preceding quarter. Analysts were forecasting the Tankan Manufacturing index to remain unchanged at -4, the surprising report was well received by traders.
Chinese data over the weekend and this morning saw manufacturing PMI close to forecast, but not strong enough to show a recovery to the slowdown. The report was forecast at 49.80 and actual was 50.20 the minimum level over the 50 needs to show improvement, when last report showed a 50.40.
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 1-2, 2012 actual v. forecast
|
Date |
Event |
Actual |
Forecast |
Previous |
|||||||||
|
Jul. 01 |
KRW |
South Korean Trade Balance |
5.00B |
2.30B |
|||||||||
|
CNY |
Chinese Mfg PMI |
50.20 |
49.80 |
50.40 |
|||||||||
|
Jul. 02 |
KRW |
South Korean CPI (YoY) |
2.2% |
2.5% |
2.5% |
||||||||
|
KRW |
South Korean CPI (MoM) |
0.2% |
0.2% |
||||||||||
|
AUD |
AIG Manufacturing Index |
47.4 |
42.4 |
||||||||||
|
JPY |
Tankan Large Mfg Index |
-1 |
-4 |
-4 |
|||||||||
|
JPY |
Tankan Non-Mfg Index |
8 |
7 |
5 |
|||||||||
|
KRW |
South Korean HSBC Mfg PMI |
49.38 |
51.03 |
||||||||||
|
AUD |
MI Inflation Gauge (MoM) |
-0.2% |
0.0% |
||||||||||
|
CNY |
Chinese HSBC Mfg PMI |
48.20 |
48.10 |
||||||||||
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 3 |
12:30am |
AUD |
Cash Rate |
3.50% |
3.50% |
|
10:00am |
USD |
Factory Orders m/m |
0.1% |
-0.6% |
|
|
7:30pm |
AUD |
AIG Services Index |
43.5 |
||
|
9:30pm |
AUD |
Retail Sales m/m |
0.3% |
-0.2% |
|
|
Jul 4 |
9:30pm |
AUD |
Trade Balance |
-0.51B |
-0.20B |
|
Jul 5 |
8:15am |
USD |
ADP Non-Farm Employment Change |
101K |
133K |
|
8:30am |
USD |
Unemployment Claims |
385K |
386K |
|
|
10:00am |
USD |
ISM Non-Manufacturing PMI |
53.1 |
53.7 |
|
|
11:00am |
USD |
Crude Oil Inventories |
-0.1M |
||
|
Jul 6 |
8:30am |
USD |
Non-Farm Employment Change |
92K |
69K |
|
8:30am |
USD |
Unemployment Rate |
8.2% |
8.2% |
Click here for updated USD/JPY News.
Originally posted here
