By FXEmpire.com
USD/JPY Fundamental Analysis April 9, 2012, Forecast
Analysis and Recommendation: (close of Asian session)
USD/JPY was trading at 82.22, down 0.17% as markets closed; down from ?82.57
The pair was likely to find support at 81.56, Monday’s low, and resistance at 83.30.
A rally on Chinese equity markets has helped the Australian dollar to recover from a three month low.
The currency had received some support from Chinese stock markets, which reopened after three days of public holidays.
Tepid demand at a Spanish government bond auction spooked investors who had been upbeat about global growth prospects and sparked a sell-off in higher-yielding, or riskier, assets.
Reflecting the negative risk sentiment, the safe-haven US dollar and Japanese Yen strengthened against all of the major currencies pushing the kiwi dollar down.
Against the Japanese yen, the euro fell 0.7% to ?107.62.
Most Western Markets are Closed on Friday April 6, 2012 and many are Closed on Monday April 9, 2012.
Economic Events April 5, 2012 actual v. forecast
|
CHF |
CPI (MoM) |
0.6% |
0.4% |
0.3% |
|
EUR |
Dutch CPI (YoY) |
2.50% |
2.20% |
2.50% |
|
GBP |
Industrial Production (MoM) |
0.4% |
0.3% |
-0.6% |
|
GBP |
Manufacturing Production |
-1.0% |
0.1% |
-0.3% |
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
BRL |
Brazilian CPI (YoY) |
5.2% |
5.4% |
5.8% |
|
Building Permits (MoM) |
7.5% |
3.0% |
-11.4% |
|
|
CAD |
Employment Change |
82.3K |
10.0K |
-2.8K |
|
USD |
Initial Jobless Claims |
357K |
355K |
363K |
|
CAD |
Unemployment Rate |
7.2% |
8.0% |
7.4% |
|
USD |
Continuing Jobless Claims |
3338K |
3350K |
3354K |
|
CAD |
Ivey PMI |
63.5 |
66.0 |
66.5 |
|
GBP |
NIESR GDP Estimate |
0.1% |
0.1% |
Economic Events scheduled for April 9, 2012
02:30 CNY Chinese CPI (YoY) 3.3% 3.2%
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
02:30 CNY Chinese PPI (YoY) -0.2%
The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.
10:00 EUR Greek CPI (YoY) 2.10%
Consumer Price index is the most frequently used indicator of inflation and reflect changes in the cost of acquiring a fixed basket of goods and services by the average consumer.
Originally posted here
