By FXEmpire.com
Analysis and Recommendation:
The USD/JPY continues in a tight range trading at 79.45. The pair have been holding close to the 79.50 range all week.
The release of Japanese production figures was disappointing, once again, coming in well under forecast, showing a continued deterioration of production in Japan, which is a contagion from the EU crisis and the ongoing global economic slowdown. The report issued by the Ministry of Economy, Trade and Industry said that industrial production fell to a seasonally adjusted -0.2%, from 0.2% in the preceding month. Analysts had expected industrial production to rise 0.2% last month.
With ongoing problems throughout the EU investors are watching more closely political situations then fundamentals.
Yesterday, the US released several weak and lackluster eco reports, which weakened the USD as we saw investors moving to the safety of gold.
Also the upcoming FOMC meeting begins today, and no one ever knows what to expect.
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 for June 13, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
Jun. 13 |
00:00 |
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
01:30 |
AUD |
Westpac Consumer Sentiment |
0.30% |
0.80% |
|||
|
06:30 |
EUR |
French CPI (MoM) |
-0.1% |
0.2% |
0.1% |
||
|
07:00 |
EUR |
German CPI (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
07:00 |
EUR |
German CPI (YoY) |
1.9% |
1.9% |
1.9% |
||
|
08:15 |
CHF |
PPI (MoM) |
-0.2% |
-0.2% |
-0.1% |
||
|
10:00 |
EUR |
Industrial Production (MoM) |
-0.8% |
-1.0% |
-0.1% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.2% |
0.2% |
0.2% |
||
|
13:30 |
USD |
Core Retail Sales (MoM) |
-0.4% |
0.0% |
-0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
-1.0% |
-0.6% |
-0.2% |
||
|
13:30 |
USD |
Retail Sales (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
13:30 |
USD |
PPI (YoY) |
0.7% |
1.1% |
1.9% |
||
|
13:30 |
USD |
Core PPI (YoY) |
2.7% |
2.8% |
2.7% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 15 |
12:30 |
USD |
Empire State Manufacturing Index |
17.1 |
|
13:00 |
USD |
TIC Long-Term Purchases |
36.2B |
|
|
13:15 |
USD |
Capacity Utilization Rate |
79.2% |
|
|
13:15 |
USD |
Industrial Production m/m |
1.1% |
|
|
13:55 |
USD |
Prelim UoM Consumer Sentiment |
79.3 |
Click here for further USD/JPY Forecast.
Originally posted here
