By FXEmpire.com

Analysis and Recommendation:

The USD/JPY saw the pair back above the 80 point in today’s trading as the pair stand at 80.41 at present. After lackluster numbers from China, Europe and the US, risk aversion shifts between gold and the greenback, the USD surged.

JPY continues to weaken, and is down 0.4% vs the USD, as Japan’s lower house has approved two dovish nominees to the BoJ policy board. The candidates are known to favor further easing in order to support the Japanese economy, leaving market participants to expect an expansion in the BoJ’s asset purchase program over the coming months, likely to be announced at the next meeting on July 12th. USDJPY has rallied over 1.0% over the past two sessions, as the dovish candidates have been approved by both the upper and lower houses of parliament

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 actual v. forecast

Jun. 21

CNY

Chinese HSBC Manufacturing PMI

48.10

48.40

EUR

French Manufacturing PMI

45.3

44.5

44.7

EUR

German Manufacturing PMI

44.7

45.2

45.2

EUR

Manufacturing PMI

44.8

44.9

45.1

GBP

Retail Sales (MoM)

1.4%

1.2%

-2.4%

GBP

Retail Sales (YoY)

2.4%

2.0%

-1.1%

HKD

Hong Kong CPI (YoY)

4.30%

4.30%

4.70%

GBP

CBI Industrial Trends Orders

-11

-20

-17

CAD

Core Retail Sales (MoM)

-0.3%

0.2%

0.3%

CAD

Retail Sales (MoM)

-0.5%

0.3%

0.4%

USD

Initial Jobless Claims

387K

380K

389K

USD

Continuing Jobless Claims

3299K

3275K

3299K

USD

Existing Home Sales

4.55M

4.57M

4.62M

USD

Philadelphia Fed Manufacturing Index

-16.6

1.3

-5.8

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

Date

Time

Currency

Event

Previous

Jun 25

14:00

USD

New Home Sales

343K

Jun 26

13:00

USD

S&P/CS Composite-20 HPI y/y

-2.6%

14:00

USD

CB Consumer Confidence

64.9

22:45

NZD

Trade Balance

355M

Jun 27

Jun 28

12:30

USD

Durable Goods Orders m/m

0.2%

14:00

USD

Pending Home Sales m/m

-5.5%

14:30

USD

Crude Oil Inventories

23:50

JPY

Retail Sales y/y

5.8%

1:00

NZD

NBNZ Business Confidence

27.1

Jun 29

12:30

USD

Unemployment Claims

12:30

USD

Final GDP q/q

1.9%

22:45

NZD

Building Consents m/m

-7.2%

23:30

JPY

Household Spending y/y

2.6%

23:30

JPY

Tokyo Core CPI y/y

-0.8%

23:50

JPY

Prelim Industrial Production m/m

-0.2%

1:30

AUD

Private Sector Credit m/m

0.4%

12:30

USD

Core PCE Price Index m/m

0.1%

12:30

USD

Personal Spending m/m

0.3%

13:45

USD

Chicago PMI

52.7

13:55

USD

Revised UoM Consumer Sentiment

74.1

Click here a current USD/JPY Chart.

Originally posted here