By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY saw the USD surge upwards in this morning’s session to close at 0.9808. Both the yen and the USD have been the safe haven currency since markets shifted to risk aversion.
The USD was able to power up after Wednesday eco data from Japan was disappointing and overall eco data from the US has been fairly well received, in a rather light week for data.
Both currencies remain strong against their crosses. It is just the eternal fight between the USD and JPY.
Today’s calendar is bare, so markets will be reacting to news and statement from Greece, Spain and the EU.
Risk aversion will continue to dominate the markets over the next few days.
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 May 17, 2012 actual v. forecast
|
Foreign Securities Purchases |
-2.08B |
9.34B |
12.54B |
|
|
USD |
Initial Jobless Claims |
370K |
365K |
370K |
|
CAD |
Wholesale Sales (MoM) |
0.4% |
0.4% |
1.5% |
|
USD |
Continuing Jobless Claims |
3265K |
3235K |
3247K |
|
MXN |
Mexican GDP (YoY) |
4.60% |
4.50% |
3.90% |
|
USD |
Philadelphia Fed Manufacturing Index |
-5.8 |
10.0 |
8.5 |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
May 22 |
3:00 |
NZD |
Inflation Expectations q/q |
2.5% |
|
14:00 |
USD |
Existing Home Sales |
4.48M |
|
|
23:50 |
JPY |
Trade Balance |
-0.62T |
|
|
May 23 |
0:00 |
AUD |
CB Leading Index m/m |
0.0% |
|
0:30 |
AUD |
MI Leading Index m/m |
0.2% |
|
|
TBD |
JPY |
Monetary Policy Statement |
||
|
TBD |
JPY |
Overnight Call Rate |
|
|
|
TBD |
JPY |
BOJ Press Conference |
||
|
14:00 |
USD |
New Home Sales |
328K |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
22:45 |
NZD |
Trade Balance |
134M |
|
|
May 24 |
2:00 |
NZD |
Annual Budget Release |
|
|
5:00 |
JPY |
BOJ Monthly Report |
||
|
12:30 |
USD |
Core Durable Goods Orders m/m |
-0.8% |
|
|
12:30 |
USD |
Unemployment Claims |
||
|
12:30 |
USD |
Durable Goods Orders m/m |
-4.0% |
|
|
23:30 |
JPY |
Tokyo Core CPI y/y |
-0.5% |
|
|
May 25 |
TBD |
ALL |
G8 Meetings |
|
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
Click here for updated USD/JPY News.
Originally posted here
