By FXEmpire.com
USD/JPY Fundamental Analysis March 23, 2012, Forecast
Analysis and Recommendation: (close of Asian session)
The USD/JPY is trading at 83.29 after opening today’s session at 83.41. The shock of the day was the Trade Balance report, which has given the upper hand to the Yen.
Japan swung back to a trade surplus in February, defying expectations for a deficit as shipments to the U.S. jumped. Japan logged a 32.9 billion yen ($395 million) surplus from the month, after January’s ?1.475 trillion deficit, the Ministry reported today.
Economic Data March 21 and 22, 2012 actual v. forecast
|
Mar. 21 |
00:30 |
AUD |
MI Leading Index (MoM) |
0.6% |
0.7% |
|
|
03:00 |
NZD |
Credit Card Spending (YoY) |
4.0% |
3.1% |
||
|
05:30 |
JPY |
All Industries Activity Index (MoM) |
-1.0% |
-0.5% |
1.6% |
|
|
08:30 |
THB |
Thai Trade Balance |
0.52B |
-0.10B |
-0.20B |
|
|
08:30 |
THB |
Thai Interest Rate Decision |
3.00% |
3.00% |
3.00% |
|
|
10:30 |
GBP |
MPC Meeting Minutes |
||||
|
10:30 |
GBP |
Public Sector Net Borrowing |
12.9B |
5.2B |
-10.2B |
|
|
11:30 |
EUR |
German 2-Year Schatz Auction |
0.310% |
0.250% |
||
|
12:00 |
USD |
MBA Mortgage Applications |
-7.4% |
-2.4% |
||
|
13:30 |
Leading Indicators (MoM) |
0.6% |
0.6% |
0.4% |
||
|
14:30 |
USD |
Fed Chairman Bernanke Testifies |
||||
|
15:00 |
USD |
Existing Home Sales |
4.59M |
4.61M |
4.63M |
|
|
Mar. 22 |
15:00 |
JPY |
Trade Balance |
-0.31T |
-0.34T |
-0.49T |
Economic Events Scheduled for March 23, 2012
There are no events scheduled at this present time that directly affect the AUD, NZD or JPY
Government Bond Auctions (this week)
Mar 22 10:10 Sweden I/L bond auction
Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt
Mar 22 15:00 US
Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar
28 & 7Y Notes on Mar 29
Originally posted here
