By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY is trading at 79.45 at the close of the Asian session. Markets are not sure what to expect as Bank of Japan policymakers prepare to meet on Wednesday. Although the BoJ has promised to do whatever is necessary, the current risk aversion tone has placed the yen in an uncomfortable situation as it is way too strong, hurting exporters.
A better-than-expected 4.1 per cent annualized increase in gross domestic product for the final three months of last year, may mean the central bank holds interest rates in its target range of zero to 0.1 per cent.
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 for May 21- 22, 2012 actual v. forecast
|
May 21 |
GBP |
Rightmove House Price Index |
0.0% |
2.9% |
|
CHF |
SECO Consumer Climate |
-8 |
-15 |
-19 |
|
May 22 |
NZD |
Inflation Expectations (QoQ) |
2.4% |
2.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
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 a current USD/JPY Chart.
Originally posted here
