USD/JPY Fundamental Analysis October 10, 2012 Forecast

Posted October 09, 2012 6:20 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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USD/JPY Fundamental Analysis October 10, 2012 Forecast

Analysis and Recommendation:

The USD/JPY continues to fight a tough battle not giving any headway to the greenback. The pair are trading this morning at 78.37 adding a few pips after the Economy Watchers Index in Japan dipped below forecast and also below previous reports. Also the Adjusted current account widened unexpectedly to 0.72T. Japan’s current account surplus unexpectedly rose 4.2 percent in August from a year earlier, Ministry of Finance data showed on Tuesday, although the outlook remains murky as a slowdown in the Chinese economy and Europe’s debt crisis are hurting the nation’s exports. The surplus stood at 454.7 billion yen ($5.82 billion), against a median forecast for 425.5 billion yen. The current account has been in a surplus for seven straight months.

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 October 9, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 09	GBP	BRC Retail Sales Monitor (YoY)	1.5%	-0.3%	-0.4%
	GBP	RICS House Price Balance	-15%	-20%	-18%
	JPY	Adjusted Current Account	0.72T	0.52T	0.34T
	AUD	NAB Business Confidence	0		-3
	JPY	Economy Watchers Current Index	41.2	44.2	43.6

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	01:30	AUD	Employment Change	3.8K	-8.8K

Government Bond Auction

Date Time Country

Oct 10 09:10 Italy

Oct 10 09:10 Sweden

Oct 10 09:30 Germany

Oct 10 09:30 Swiss

Oct 10 14:30 Sweden

Oct 10 17:00 US

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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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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