Analysis and Recommendation:

The USD/JPY is trading this morning at 79.57 almost exactly at the opening. With little in the way of eco news, little news flow over the weekend and regional holidays in Asia, markets are expected to be extremely quiet.

As August rolls to an end, most traders, and politicians are enjoying the August vacation season.

August also is a long calendar month of eco data and the end of the month data will not be released until next week. The big events this week, are mostly from the US, with Chinese HSBC PMI released mid week, existing home sales and new home sales will be main events with the week capped off by Durable Goods.

The BoJ Governor Shirakawa speaks on Friday along with Australia’s central bank director Stevens.

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 August 20, 2012 actual v. forecast

(No release in for the AUD, NZD or the JPY on Monday morning)

Aug. 16

NZD

PPI Input (QoQ)

0.6%

-0.2%

0.3%

Aug. 17

USD

Michigan Consumer Sentiment

73.6

72.4

72.3

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Aug. 21

02:30

AUD

Monetary Policy Meeting Minutes

04:00

NZD

Inflation Expectations (QoQ)

2.4%

Aug. 22

00:50

JPY

Trade Balance

-0.46T

-0.30T

15:00

USD

Existing Home Sales

4.52M

4.37M

19:00

USD

FOMC Meeting Minutes

Aug. 23

03:30

CNY

Chinese HSBC Manufacturing PMI

49.30

13:30

USD

Initial Jobless Claims

365K

366K

13:30

USD

Continuing Jobless Claims

3300K

3305K

15:00

USD

New Home Sales

365K

350K

23:45

NZD

Trade Balance

-47M

331M

Aug. 24

00:30

AUD

RBA Governor Stevens Speaks

08:45

JPY

BoJ Governor Shirakawa Speaks

13:30

USD

Core Durable Goods Orders (MoM)

0.5%

-1.4%

13:30

USD

Durable Goods Orders (MoM)

2.5%

1.3%

Click here for further USD/JPY Forecast.

Originally posted here