By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY continues to exhibit strength, as investors move from equities and commodities to the safety of the yen. It is about an even battle between the safe harbors of the USD and the JPY.
With mounting uncertainty about Greece and their continuation with austerity measures and remaining in the EU to the May 16th meeting between new French President Hollande and Chancellor Merkel. This should give off some fireworks, Merkel a hardcore austeritian and Hollande a pro growth believer, who both have completely differing personalities and ideological beliefs; it is our belief that we will see new alliances forming in the EU as Merkel and Hollande tussle for the upper hand.
Economic Reports for May 9-10, 2012 actual v. forecast
|
May 10 |
AUD |
Employment Change |
15.5K |
-5.5K |
44.0K |
|
AUD |
Unemployment Rate |
4.9% |
5.3% |
5.2% |
|
|
CNY |
Chinese Trade Balance |
18.40B |
8.50B |
5.35B |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 11 |
02:30 |
CNY |
Chinese PPI (YoY) |
-0.3% |
|
02:30 |
CNY |
Chinese CPI (MoM) |
0.2% |
|
|
06:30 |
CNY |
Chinese Fixed Asset Investment (YoY) |
20.9% |
|
|
06:30 |
CNY |
Chinese Industrial Production (YoY) |
11.9% |
|
|
06:30 |
CNY |
Chinese Retail Sales (YoY) |
15.2% |
|
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
|
|
13:30 |
USD |
PPI (MoM) |
0.0% |
|
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for further USD/JPY Forecast.
Originally posted here
