By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 79.29 as the US dollar continues to drift downward. There is no single element that can be blamed for the dip in the dollar index, but investors are looking waiting on home sales number which could be the deciding factor in monetary stimulus for the US as hopes have faded with better than expected eco data last week. Also tomorrow the FOMC minutes for its July report will be released.
The JPY has been struggling against the US due to weak eco data on the Japanese economy and as risk aversion has left the markets. Bond yields have also been weighing on the currency. The pair are expected to move towards the 80.00 price this week
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 21, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 21 |
AUD |
Monetary Policy Meeting Minutes |
|||
|
NZD |
Credit Card Spending (YoY) |
0.1% |
3.9% |
||
|
NZD |
Inflation Expectations (QoQ) |
2.3% |
2.4% |
||
|
JPY |
All Industries Activity Index (MoM) |
0.2% |
0.3% |
-0.2% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Aug. 22 |
00:50 |
JPY |
Trade Balance |
-0.46T |
-0.30T |
|
15:00 |
USD |
4.52M |
4.37M |
||
|
19:00 |
USD |
FOMC Meeting Minutes |
Click here a current USD/JPY Chart.
Originally posted here
