USD/JPY Fundamental Analysis April 6, 2012, Forecast

By FXEmpire.com

Analysis and Recommendation: (close of Asian session)

REMEMBER MARKETS MOST MARKETS ARE CLOSED ON FRIDAY APRIL 6, 2012 AND MANY REMAIN CLOSED ON MONDAY APRIL 12, 2012

The USD/JPY strengthened, with the dollar buying ?82.19, down from ?82.49 Wednesday.

There is no scheduled economic data due from Japan today and the USD will be releasing the weekly unemployment claims report. If the number continues to fall as expected, the USD should show some additional gains. This pair will be waiting for Chinese numbers due on next week.

Remember, with markets closing for the holiday weekend volume will be light and traders will be repositioning themselves to cover for the Friday release of the NFP in the US.

Economic Reports for April 4 & 5, 2012 actual v. forecast that affect the AUD, NZD, JPY and USD

Apr. 04	AUD	AIG Services Index	47.0	46.7
NZD	ANZ Commodity Price Index (MoM)	-1.7%	0.0%
AUD	Trade Balance	-0.48B	1.00B	-0.97B
USD	MBA Mortgage Applications	4.8%	-2.7%
USD	Treasury Secretary Geithner Speaks
USD	ADP Nonfarm Employment Change	209K	200K	230K
USD	ISM Non-Manufacturing Index	56.0	57.0	57.3
USD	Crude Oil Inventories	9.0M	2.2M	7.1M
USD	Gasoline Inventories	-1.5M	-1.4M	-3.5M
Apr. 05	CNY	Chinese HSBC Services PMI	53.30	53.90

Economic Events scheduled for April 6, 2012 that affect the NZD, AUD, and JPY

There are no local or regional reports due on April 6, 2012 and most markets are closed

13:30 USD Average Hourly Earnings (MoM)

13:30 USD Private Nonfarm Payrolls

Average Hourly Earnings measures the change in the price businesses pay for labor, not including the agricultural sector. Private Nonfarm Payrolls measures the change in the number of total number of paid U.S. workers of any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

13:30 USD Nonfarm Payrolls

13:30 USD Unemployment Rate

Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.

There are no government bond auctions scheduled for Friday April 6, 2012

Originally posted here