USD/JPY Fundamental Analysis August 22, 2012, Forecast

Posted August 21, 2012 6:16 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The USD/JPY is trading at 79.29 as the US dollar continues to drift downward. There is no single element that can be blamed for the dip in the dollar index, but investors are looking waiting on home sales number which could be the deciding factor in monetary stimulus for the US as hopes have faded with better than expected eco data last week. Also tomorrow the FOMC minutes for its July report will be released.

The JPY has been struggling against the US due to weak eco data on the Japanese economy and as risk aversion has left the markets. Bond yields have also been weighing on the currency. The pair are expected to move towards the 80.00 price this week

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 August 21, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 21

AUD

Monetary Policy Meeting Minutes

NZD

Credit Card Spending (YoY)

0.1%

3.9%

NZD

Inflation Expectations (QoQ)

2.3%

2.4%

JPY

All Industries Activity Index (MoM)

0.2%

0.3%

-0.2%

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

Aug. 22	00:50	JPY	Trade Balance	-0.46T	-0.30T
	15:00	USD	Existing Home Sales	4.52M	4.37M
	19:00	USD	FOMC Meeting Minutes

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About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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