By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 79.32 as traders await the BoJ and the FOMC. Today, the FOMC meeting minutes will be released, where investors are hoping to be able to interpret the Fed speak to see in which way the Fed’s are leaning. Over the weekend, two Fed members said they would support additional QE.
In Japan today, the BoJ begin its 2 day meetings, no news is expected today and at tomorrow’s conclusion markets are expecting no changes by the BoJ. This morning Industry Activity Index showed a larger than expected jump in activity. (See chart below)
The pair remains in a tight range holding close to the 79.50 level. The US dollar index has soared to trade over 83.00 but the JPY remains strong to offset the greenbacks momentum
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 July 11, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 11 |
AUD |
RBA Assist Gov Lowe Speaks |
|||
|
KRW |
South Korean Unemployment Rate |
3.2% |
3.2% |
3.2% |
|
|
JPY |
CGPI (YoY) |
-1.3% |
-0.9% |
-0.5% |
|
|
JPY |
Tertiary Industry Activity Index (MoM) |
0.7% |
0.2% |
-0.2% |
|
|
AUD |
Westpac Consumer Sentiment |
3.70% |
0.30% |
||
|
AUD |
Home Loans (MoM) |
-1.2% |
0.7% |
0.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 12 |
1:00 |
AUD |
2.3% |
|
|
1:30 |
AUD |
38.9K |
||
|
1:30 |
AUD |
5.1% |
||
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Click here a current USD/JPY Chart.
Originally posted here
