USD/JPY Fundamental Analysis July 24, 2012, Forecast

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Analysis and Recommendation:

The USD/JPY is trading at 78.16 as markets try to overcome the news over the weekend that the Troika has cut off funding to Greece. The euro has plummeted against the USD trading at 1.2113. The JPY remains the safe harbor of choice as investors run from the euro. Spanish borrowing costs soared on Friday. This morning, Japan finance minister again threatens intervention as yen hits fresh highs. The minister says the yen’s rise is having an impact on Japan exporters. The prime minister and central bank governor hold a closed-door meeting as the BOJ governor renews his pledge to continue strong easing

Asian equities have also fallen this morning on this news.

The USD has picked up momentum against all of its partners except the JPY.

Today, there is little in the way of eco data on either side of the Pacific, so news flow with control the markets.

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 July 23, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 23

 

TWD

 

 

 

Taiwanese Unemployment Rate 

4.24%

 

4.30% 

 

4.25% 

 

 

 

 

AUD

 

 

 

PPI (QoQ) 

0.5%

 

0.3% 

 

-0.3% 

 

 

 

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

Date

Time

Currency

 Event

Previous

Jul 24

13:00

USD

Flash Manufacturing PMI

52.5

22:45

NZD

Trade Balance

301M

23:50

JPY

Trade Balance

-0.66T

Jul 25

0:00

AUD

CB Leading Index m/m

-1.4%

1:30

AUD

CPI q/q

0.1%

1:30

AUD

Trimmed Mean CPI q/q

0.3%

14:00

USD

New Home Sales

369K

14:30

USD

Crude Oil Inventories

 

21:00

NZD

Official Cash Rate

2.50%

21:00

NZD

RBNZ Rate Statement

 

Jul 26

0:10

JPY

BOJ Gov Shirakawa Speaks

 

12:30

USD

Core Durable Goods Orders m/m

0.7%

12:30

USD

Unemployment Claims

 

14:00

USD

Pending Home Sales m/m

5.9%

23:30

JPY

Tokyo Core CPI y/y

-0.6%

23:50

JPY

Retail Sales y/y

3.6%

Jul 27

12:30

USD

Advance GDP q/q

1.9%

13:55

USD

Revised UoM Consumer Sentiment

72.0

 

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About:FX Empire Analyst - Barry Norman

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