By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY is trading at 80.01 as the USD won in the risk aversion battle in this morning’s Asian session.
The eurozone is the central focus of the global markets as it the country is still unable to assemble a government. At this time, it looks like they will have to call for new elections as the leaders have been able to form a coalition between the parties. The public outcries over the austerity measures and the revolts against long standing political parties, as the people want to wash out the old, the problem is there is no new to put in place, except a lot of small parties with diverse views, ranging from far rights, to leftists, to communists.
The greenback and Japanese Yen continue higher in European trade, extending Asian-session gains as Eurozone crisis fears continue to dent risk appetite.
The signs are hinting risk aversion will continue to drive the safe-haven dollar and theYen higher against their major trading partners. The two currencies added as much as 0.3 percent each against the majors overnight as Asian stocks slumped, with traders unnerved amid Eurozone-linked uncertainty.
The possibility of Greece leaving the euro is becoming more and more likely and the uncertainty of their bailout situation and the possibility of default are becoming probably scenarios.
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, which cover the current week and are published by Sunday before the new week begins.
In Today’s Asian Session actual v. forecast
|
May 14 |
JPY |
CGPI (YoY) |
-0.2% |
-0.3% |
0.5% |
|
AUD |
Home Loans (MoM) |
0.3% |
-2.0% |
-2.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 16 |
01:30 |
AUD |
Westpac Consumer Sentiment |
-1.60% |
|
|
02:30 |
AUD |
Wage Price Index (QoQ) |
1.0% |
||
|
23:45 |
NZD |
PPI Input (QoQ) |
0.5% |
||
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
05:30 |
JPY |
Industrial Production (MoM) |
1.0% |
Government Bond Auctions (this week)
Date Time Country
May 15 09:30 Belgium
May 15 09:30 UK
May 16 08:50 France
May 16 09:10 Sweden
May 16 09:30 Germany
May 16 09:50 France
May 16 14:30 Sweden
May 17 08:30 Spain
May 17 15:00 US
May 17 17:00 US
Click here for further NZD/USD Forecast.
Originally posted here
