USD/JPY Fundamental Analysis October 12, 2012 Forecast

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USD/JPY Fundamental Analysis October 12, 2012 Forecast

USD/JPY Fundamental Analysis October 12, 2012 Forecast

Analysis and Recommendation:

The USD/JPY is trading at 77.99 in risk aversion mode. G7 leaders and EU Finance Ministers are meeting in Tokyo along with the IMF and World Bank to discuss the current global economic situation. Side meetings are also scheduled to discuss the continue stress to the Japanese economy caused by the strength of the JPY. The USD and JPY are both picking up momentum as they are beginning to be the favored safe havens as markets turn to risk off assets. Global growth and debt continues to weigh heavily on investors’ minds along with the worsening slowdown in China. This morning Japan reported a drop in household confidence and Core Machinery orders which worsens the Japanese economic situation.

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 11, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 11

 

JPY

 

 

Core Machinery Orders (MoM) 

-3.3%

 

-2.5% 

 

4.6% 

 

 

JPY

 

 

Bank Lending (YoY) 

1.0%

 

 

 

0.9% 

 

 

AUD

 

 

MI Inflation Expectations 

2.6%

 

 

 

2.4% 

 

 

AUD

 

 

Employment Change 

14.5K

 

3.8K 

 

-9.1K 

 

 

AUD

 

 

Unemployment Rate 

5.4%

 

5.3% 

 

5.1% 

 

 

KRW

 

 

South Korean Interest Rate Decision 

2.75%

 

2.75% 

 

3.00% 

 

 

MYR

 

 

Malaysian Industrial Production (YoY) 

-0.7%

 

-2.0% 

 

2.9% 

 

 

JPY

 

 

Household Confidence 

40.1

 

41.2 

 

40.5 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 12

00:50

JPY

Tertiary Industry Activity Index (MoM) 

0.5% 

-0.8% 

 

13:30

USD

Core PPI (MoM) 

0.2% 

0.2% 

 

13:30

USD

PPI (MoM) 

0.8% 

1.7% 

 

14:55

USD

Michigan Consumer Sentiment 

77.9 

78.3 

Government Bond Auction

Date Time Country 

Oct 12 09:30 Germany 

Oct 12 10:00 Belgium

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About: FX Empire Analyst - Barry Norman

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