By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 78.56 having broken out of the trading range in the low 79 price level. The JPY is outperforming most of its peers on the crosses, with relative strength driven by mild risk aversion. Machine tool orders remain weak and contractionary, and the BoJ minutes from the mid-June meeting (not last week’s in which slight policy changes were announced) have not provided for much of an impact on JPY. Policymakers remain committed to powerful easing, a response that includes ongoing asset purchases and segment-focused lending facilities.
A lack important eco data through the end of the week will see JPY trade on broader market sentiment.
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 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 18 |
JPY |
Monetary Policy Meeting Minutes |
|||
|
GBP |
Average Earnings Index +Bonus |
1.5% |
1.4% |
1.4% |
|
|
GBP |
Claimant Count Change |
6.1K |
5.0K |
6.9K |
|
|
GBP |
MPC Meeting Minutes |
||||
|
USD |
Building Permits |
0.755M |
0.765M |
0.784M |
|
|
USD |
Housing Starts |
0.760M |
0.745M |
0.711M |
|
|
USD |
Fed Chairman Bernanke Testifies |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 20 |
1:30 |
AUD |
Import Prices q/q |
-1.2% |
Government Bond Auctions
Date Time Country
Jul 23- n/a UK
Jul 23 09:30 Germany
Jul 24 08:30 Netherlands
Jul 24 08:30 Spain
Jul 24 15:30 Italy
Jul 24 17:00 US
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here a current USD/JPY Chart.
Originally posted here
