USD/JPY Fundamental Analysis August 27, 2012, Forecast
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Analysis and Recommendation:
The USD/JPY is trading at 78.62 as the US was able to add a few pips in this morning’s session. JPY is is little changed vs the USD, holding on to gains seen over the course of yesterday’s post-FOMC reaction. Markets were quick to drive a 1.0% rally in JPY as they assessed the implications of the FOMC’s dovish rhetoric in relation to the outlook for BoJ policy. While both central banks remain accommodative, and despite the fact that we expect JPY weakness as a result of a renewed expansion in yield spreads vs the US, the near term impact of monetary policy is likely to drive JPY strength in the absence of a renewal in interventionist and dovish rhetoric from the MoF and BOJ, respectively.
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 24, 2012 actual v. forecast
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Date |
|
Currency |
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|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
Aug. 24 |
|
AUD |
|
|
RBA Governor Stevens Speaks |
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|
|
|
|
|
||
|
|
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JPY |
|
|
CSPI (YoY) |
-0.2% |
|
-0.2% |
|
-0.4% |
|||
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AUD |
|
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CB Leading Index (MoM) |
0.2% |
|
|
|
0.3% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD ( very light day )
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Date |
Currency |
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Previous |
||
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Mon Aug 27 |
27th-28th |
EUR |
German Import Prices m/m |
-1.5% |
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All Day |
GBP |
Bank Holiday |
|||
|
12:15pm |
USD |
FOMC Member Pianalto Speaks |
|||
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Tentative |
AUD |
HIA New Home Sales m/m |
2.8% |
Government Bond Auctions
Date Time Country
23/8 05:45 Japan
23/8 11:30 UK
23/8 19:00 US
27/8 11:30 Germany
28/8 10:30 Spain
28/8 11:00 Italy
28/8 19:00 US
29/8 11:00 Italy
29/8 19:00 US
30/8 05:35 Japan
30/8 11:00 Italy
30/8 19:00 US
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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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