USD/JPY Fundamental Analysis July 24, 2012, Forecast

Posted July 23, 2012 6:48 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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%
Jul 27	13:55	USD	Revised UoM Consumer Sentiment	72.0

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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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