By FXEmpire.com

Analysis and Recommendation:

The USD/JPY saw the USD gain momentum. The JPY has fallen to trade at 79.59, after disappointment over the stimulus offered by the US Fed yesterday. Markets were hoping to see a large new program designed to launch the US economy, but as always Ben Bernanke doesn’t do the expected. The Fed, revised US growth downwards and commented on the jobs situation, but said the economy though slow was improving and continued Operation Twist, and added 267bn USD.

This was the least that the markets were expecting, but hoping for more. Bernanke continued his motto, that the Fed was prepared to act if necessary, but not at this time.

This morning Chinese HSBC Manufacturing PMI was release and continued to report under the 50 line at 48.10 a drop from the prior report. There is always a difference between the HSBC report and government figures but markets rely more heavily on the HSBC numbers. Chinese leaders have described the current economic situation as a “repositioning”

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 20-21, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

USD

Interest Rate Decision

0.25%

0.25%

0.25%

USD

FOMC Statement

USD

Fed Chairman Bernanke Speaks

NZD

GDP (QoQ)

1.1%

0.5%

0.4%

Jun. 21

CNY

Chinese HSBC Manufacturing PMI

48.10

48.40

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

There are no scheduled major economic events for the Asian Pacific Region on the 22nd.

Upcoming Government Bond Auctions

Date Time Country

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

Jun 26 09:30 UK

Jun 26 14:30 UK

Jun 26 17:00 US

Click here to read USD/JPY Technical Analysis.

Originally posted here