USD/JPY Fundamental Analysis July 30, 2012, Forecast

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Analysis and Recommendation:

The USD/JPY is trading at 78.21 moving towards the top of the current range. The pair remains rangebound as markets moved into higher risk assets yesterday after ECB President Draghi, vowed to save the monetary union.

The euro soared and the USD weakened immediately.

As risk aversion lessened this pair remained in their range.

Japanese lawmakers continue to push the Bank of Japan to ease the burden on the economy by adding monetary stimulus to push down the value of the yen.

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 27, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 27

 

KRW

 

 

 

South Korean Current Account 

3.68B

 

5.00B 

 

3.13B 

   

 

 

JPY

 

 

 

Tokyo Core CPI (YoY) 

-0.6%

 

-0.7% 

 

-0.6% 

 

 

 

 

JPY

 

 

 

National Core CPI (YoY) 

-0.2%

 

0.0% 

 

-0.1% 

 

 

 

 

JPY

 

 

 

Retail Sales (YoY) 

0.2%

 

1.2% 

 

3.6% 

 

 

 

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

Date

Time

Currency

 Event

Previous

Jul 30

23:30

JPY

Household Spending y/y

4.0%

Jul 31

1:00

NZD

NBNZ Business Confidence

12.6

 

1:30

AUD

Building Approvals m/m

27.3%

 

1:30

AUD

Private Sector Credit m/m

0.5%

 

1:30

JPY

Average Cash Earnings y/y

-1.1%

 

12:30

USD

Core PCE Price Index m/m

0.1%

 

12:30

USD

Employment Cost Index q/q

0.4%

 

12:30

USD

Personal Spending m/m

0.0%

 

13:00

USD

S&P/CS Composite-20 HPI y/y

-1.9%

 

13:45

USD

Chicago PMI

52.9

 

14:00

USD

CB Consumer Confidence

62.0

Aug 1

1:30

AUD

HPI q/q

-1.1%

 

12:15

USD

ADP Non-Farm Employment Change

176K

 

14:00

USD

ISM Manufacturing PMI

49.7

 

18:15

USD

FOMC Statement

 

Aug 2

1:30

AUD

Retail Sales m/m

0.5%

 

1:30

AUD

Trade Balance

-0.29B

 

12:30

USD

Unemployment Claims

 
 

14:00

USD

Factory Orders m/m

0.7%

 

23:30

AUD

AIG Services Index

48.8

Aug 3

12:30

USD

Non-Farm Employment Change

80K

 

12:30

USD

Unemployment Rate

8.2%

 

12:30

USD

Average Hourly Earnings m/m

0.3%

 

14:00

USD

ISM Non-Manufacturing PMI

52.1

Government Bond Auctions

Date  Time  Country 

Jul 30  09:10  Italy  

Jul 30  10:00  Belgium

Jul 31  00:30  Japan

Jul 31  09:30  Belgium

Aug 01  09:30  Germany

Aug 01  10:00  Norway

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