By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is climbing at 79.42 as Asian markets prepare to close for the session. The USD has spiked, on possible Fed intervention and comments from the Japanese Finance Minister. Market participants remained vigilant over Japan’s possible yen-weakening market interventions
The USD has energized on optimism European policymakers will act to stimulate the region’s economy and prop up Spanish banks.
In the US, the Federal Reserve said the world’s largest economy maintained a moderate pace of growth as factory output rose and the real estate market improved.
European Central Bank president Mario Draghi said policymakers were “ready to act” after the central bank left its benchmark rate at a record low one per cent.
The ECB also extended its lending to banks for up to three years, providing some hope for ailing Spanish lenders.
The dollar soared on comments from Finance Minister Jun Azumi following the teleconference of finance ministers and central bank governors of the G-7 major industrial nations, which was held Tuesday night to tackle the European debt crisis.
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 6-7, 2012 actual v. forecast
|
EUR |
GDP (QoQ) |
0.0% |
0.0% |
0.0% |
|
|
EUR |
German Industrial Production (MoM) |
-2.2% |
-1.0% |
2.2% |
|
|
EUR |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
|
USD |
Nonfarm Productivity (QoQ) |
-0.9% |
-0.7% |
-0.5% |
|
|
USD |
Unit Labor Costs (QoQ) |
1.3% |
2.2% |
2.0% |
|
|
Jun. 07 |
AUD |
Employment Change |
38.9K |
-5.0K |
15.5K |
|
AUD |
Unemployment Rate |
5.1% |
5.1% |
5.0% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
Jun 8 |
1:30 |
AUD |
Trade Balance |
-1.59B |
|
1:30 |
AUD |
Home Loans m/m |
0.3% |
|
|
12:30 |
USD |
Trade Balance |
-51.8B |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
Originally posted here
