USD/JPY Fundamental Analysis July 17, 2012, Forecast

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Analysis and Recommendation:

The USD/JPY is trading at 79.08 on a quiet Monday morning session in Asia. Japanese markets are closed for a local holiday, and there has been little eco data since the early in the US session on Friday. Earning season in the US is in full swing, which lifted the Wall Street on Friday, and gave a push to global markets.

The JPY continues to gain strength against a strong US dollar. The dollar index continues to trade in the mid 83 price level, but the JPY continues to add pips.

The possibility of Chinese monetary stimulus to help improve Chinese production has become the focus of the markets at present, as investors continue to trade central bank monetary easing as opposed to fundamentals. The possibility of a huge stimulus package would help support all of the Asian currencies and the primary trading partners of China, of which Japan is considered to be one of. Also last week, retail sales in China were higher than forecast, helping Japanese exports to China.

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.

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

Date

Time

Currency

 Event

Previous

Jul 17

1:30

AUD

New Motor Vehicle Sales m/m

2.4%

9:15

ALL

G7 Meetings

 

12:30

USD

CPI m/m

-0.3%

13:00

USD

TIC Long-Term Purchases

25.6B

13:15

USD

Capacity Utilization Rate

79.0%

13:15

USD

Industrial Production m/m

-0.1%

Jul 18

0:30

AUD

MI Leading Index m/m

0.5%

12:30

USD

Building Permits

0.78M

12:30

USD

Housing Starts

0.71M

14:30

USD

Crude Oil Inventories

-4.7M

Jul 19

1:30

AUD

NAB Quarterly Business Confidence

-1

12:30

USD

Unemployment Claims

 

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

1:30

AUD

Import Prices q/q

-1.2%

 

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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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