By FXEmpire.com
USD/JPY Fundamental Analysis June 21, 2012, Forecast
Analysis and Recommendation:
The USD/JPY is holding at 78.85 as investors moved a bit to risk on trading, in front of the FOMC statements due later today. Markets are expecting additional monetary easing from the Feds after weeks of poor eco data in the US. The yen remains strong as speculators are not ready to abandon safety with the mess in the EU. Spanish bond yields continue to climb and the need for a complete bailout is becoming more evident, as Monti from Italy, followed Rajoy in denying the need for a bailout with the exclusion clause, that if Italy is frozen out of the credit markets, he will have to request a bailout. It’s that famous loophole.
The Japanese trade balance continued to widen as reported today much exceeding forecast, leaving economists and investors stressed over Japan’s economic health. There is a lot that can be read into this report and the fact that Japan is now importing huge amounts of energy, since the closure of their nuclear power plants after the tsunami left the country without the necessary energy resources.
The government is now considering starting up some of the plants that have been checked and approve, which will help reign in their imports.
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 19 – 20, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
USD |
Building Permits |
0.78M |
0.73M |
0.72M |
|
|
USD |
Housing Starts |
0.71M |
0.72M |
0.74M |
|
|
ALL |
G20 Meetings |
||||
|
NZD |
Current Account |
-1.31B |
-1.13B |
-2.83B |
|
|
JPY |
Trade Balance |
-0.66T |
-0.36T |
-0.51T |
|
|
Jun 20 |
AUD |
CB Leading Index m/m |
-1.4% |
-0.2% |
|
|
AUD |
MI Leading Index m/m |
0.5% |
0.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 21 |
12:30 |
USD |
386K |
||
|
13:00 |
USD |
54.0 |
|||
|
14:00 |
USD |
4.62M |
|||
|
14:00 |
USD |
-5.8 |
Upcoming Government Bond Auctions
Date Time Country
Jun 21 08:30 Spain
Jun 21 08:50 France
Jun 21 09:30 UK
Jun 21 09:50 France
Jun 21 15:00 US
Jun 21 17:00 US
Jun 22 15:30 Italy
Jun 25 09:10 Norway
Jun 25 09:30 Germany
Jun 25 10:00 Belgium
Jun 25 15:30 Italy
Jun 26 00:30 Japan
Jun 26 08:30 Holland
Jun 26 08:30 Spain
Jun 26 09:10 Italy
Click here to read USD/JPY Technical Analysis.
Originally posted here
