USD/JPY Fundamental Analysis March 21, 2012, Forecast

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Analysis and Recommendation: (close of Asian session)

USD/JPY is up at 83.43, it is the same story throughout the Pacific region, and investors are pushing up the USD in preparation for a key speech today by Fed Chairman Bernanke.

There is little in the way of economic news to affect the JPY or the USD. The moves of the pair will come on the interpretations of Mr. Bernanke’s address.

The U.S. will also release data on building permits, an key gauge of future construction, as well as data on housing starts, a leading indicator of economic recovery. 

 

Economic Reports for March 19 and 20, 2012 actual vs. forecast

Mar. 19

 

GBP

 

 

 

Rightmove House Price Index (MoM) 

1.6%

 

 

 

4.1% 

 

 

 

 

AUD

 

 

 

RBA Governor Stevens Speaks 

 

 

 

 

 

 

 

 

 

EUR

 

 

 

Current Account 

4.5B

 

4.3B 

 

3.4B 

   

 

 

EUR

 

 

 

Italian Industrial New Orders (MoM) 

-7.4%

 

-3.8% 

 

5.2% 

   

 

 

CLP

 

 

 

Chilean GDP (YoY) 

4.5%

 

4.2% 

 

3.7% 

   

 

 

CAD

 

 

 

Wholesale Sales (MoM) 

-1.0%

 

0.4% 

 

1.0% 

   

 

 

USD

 

 

 

NAHB Housing Market Index 

28

 

30 

 

28 

   

 

 

USD

 

 

 

3-Month Bill Auction 

0.095%

 

 

 

0.095% 

 

 

 

 

COP

 

 

 

Colombian Industrial Production (YoY) 

 

 

4.5% 

 

2.4% 

 

 

Mar. 20

 

AUD

 

 

 

CB Leading Index (MoM) 

1.1%

 

 

 

-0.3% 

   

 

Economic Events March 21, 2012 that effect the AUD, NZD and JPY

15:00     USD      Existing Home Sales      

Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.                                          

22:45     NZD      GDP (QoQ)

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

Government Bond Auctions (this week)

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

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