By FXEmpire.com
Analysis and Recommendation:
The USD/JPY is trading at 79.67. USDJPY has traded very close to the 79.50 for the last three days. Two private sector economist Takahide Kiuchi (Normura) and Takehiro Sato (Morgan), who are thought to be dovish and supporters of further QE were named by the government as potential BoJ members, parliament still needs to vote on them, however they could shift the tone at the BoJ to an even more dovish stance. In its annual review, the IMF reiterated that further QE might be beneficial for the Japanese economy.
With the current risk aversion theme back in place, the yen is expected to remain strong, through the upcoming FOMC meetings and the Greek election results, while the Spanish disaster remains in center stage.
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 June 12 -13, 2012 actual v. forecast
|
Date |
Currency |
Actual |
Forecast |
Previous |
|
GBP |
Manufacturing Production m/m |
-0.7% |
0.0% |
0.9% |
|
USD |
Import Prices m/m |
-1.0% |
-1.0% |
0.0% |
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.1% |
|
|
USD |
Federal Budget Balance |
-124.6B |
-112.7B |
59.1B |
|
JPY |
Core Machinery Orders m/m |
5.7% |
2.0% |
-2.8% |
|
Jun 13 |
AUD |
Westpac Consumer Sentiment |
0.3% |
0.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 14 |
1:00 |
AUD |
3.1% |
|
|
12:30 |
USD |
0.2% |
||
|
12:30 |
USD |
377K |
||
|
12:30 |
USD |
0.0% |
||
|
12:30 |
USD |
-124B |
||
|
Jun 15 |
12:30 |
USD |
17.1 |
|
|
13:00 |
USD |
36.2B |
||
|
13:15 |
USD |
79.2% |
||
|
13:15 |
USD |
1.1% |
||
|
13:55 |
USD |
79.3 |
Click here for further USD/JPY Forecast.
Originally posted here
