USD/JPY Fundamental Analysis March 21, 2012, Forecast

By FXEmpire.com

Analysis and Recommendation: (close of Asian session)

USD/JPY is up at 83.43, it is the same story throughout the Pacific region, and investors are pushing up the USD in preparation for a key speech today by Fed Chairman Bernanke.

There is little in the way of economic news to affect the JPY or the USD. The moves of the pair will come on the interpretations of Mr. Bernanke’s address.

The U.S. will also release data on building permits, an key gauge of future construction, as well as data on housing starts, a leading indicator of economic recovery.

Economic Reports for March 19 and 20, 2012 actual vs. forecast

Mar. 19	GBP	Rightmove House Price Index (MoM)	1.6%	4.1%
AUD	RBA Governor Stevens Speaks
EUR	Current Account	4.5B	4.3B	3.4B
EUR	Italian Industrial New Orders (MoM)	-7.4%	-3.8%	5.2%
CLP	Chilean GDP (YoY)	4.5%	4.2%	3.7%
CAD	Wholesale Sales (MoM)	-1.0%	0.4%	1.0%
USD	NAHB Housing Market Index	28	30	28
USD	3-Month Bill Auction	0.095%	0.095%
COP	Colombian Industrial Production (YoY)	4.5%	2.4%
Mar. 20	AUD	CB Leading Index (MoM)	1.1%	-0.3%

Economic Events March 21, 2012 that effect the AUD, NZD and JPY

15:00 USD Existing Home Sales

Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.

22:45 NZD GDP (QoQ)

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

Government Bond Auctions (this week)

Mar 22 10:10 Sweden I/L bond auction

Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt

Mar 22 15:00 US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

Originally posted here