By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY continues to be the safe haven of choice, nothing seems to stop the investors flow into the JPY. The USD picked up a bit of momentum this morning, but nothing much the pair basically are flat.
With the downgrade of Japan this week and the move to negative outlook, one would have expected the JPY to sink, combined with the inaction by the BoJ markets have been very surprised.
In the longer term, exports are finding it difficult with the Yen so strong. Also the additional purchases of imported energy, with the closing of the nuclear power stations, Japan is beginning to show cracks in its strong currency.
There is little in the way of eco data today and yesterday was a day of negative data, although all eyes will remain focused on Europe and news flows.
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 for May 24-25 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
German GDP (QoQ) |
0.5% |
0.5% |
0.5% |
|
|
EUR |
French Manufacturing PMI |
44.4 |
47.0 |
46.9 |
|
|
EUR |
German Manufacturing PMI |
45.0 |
47.0 |
46.2 |
|
|
EUR |
German Ifo Business Climate Index |
106.9 |
109.4 |
109.9 |
|
|
EUR |
Manufacturing PMI |
45.0 |
46.1 |
45.9 |
|
|
EUR |
German Current Assessment |
113.3 |
117.4 |
117.5 |
|
|
EUR |
German Business Expectations |
100.9 |
102.0 |
102.7 |
|
|
GBP |
BBA Mortgage Approvals |
32.4K |
32.3K |
31.9K |
|
|
GBP |
Business Investment (QoQ) |
3.6% |
3.2% |
-3.3% |
|
|
GBP |
GDP (QoQ) |
-0.3% |
-0.2% |
-0.2% |
|
|
USD |
Durable Goods Orders (MoM) |
0.2% |
0.5% |
-3.7% |
|
|
USD |
Initial Jobless Claims |
370K |
370K |
372K |
|
|
USD |
Continuing Jobless Claims |
3260K |
3250K |
3289K |
|
|
May 25 |
JPY |
Tokyo Core CPI (YoY) |
-0.8% |
-0.6% |
-0.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Cur. |
Event |
Forecast |
Previous |
|
|
May 28 |
JPY |
Unemployment Rate |
4.5% |
4.5% |
|
|
JPY |
Retail Sales (YoY) |
6.3% |
10.3% |
||
Date Time Country
May 28- n/a UK
May 28 09:10 Italy
May 29 00:30 Japan
May 29 09:10 Italy
May 29 09:10 Norway
May 30 09:10 Italy
May 30 09:10 Sweden
Click here a current USD/JPY Chart.
Originally posted here
