USD/JPY Fundamental Analysis October 18, 2012 Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendation:

The USD/JPY dipped to trade at 78.65 after breaking above the 78.95 level the previous day.  Following the release of the TIC report, the U.S. dollar tumbled against the Japanese yen, the alternative safe haven currency.

Foreign demand for U.S. financial assets unexpectedly surged in August, as international investors sought stability in safe haven assets amid uncertainty surrounding a Chinese slowdown and ongoing debt woes in Europe. According to the Treasury International Capital (TIC) statement, long-term net purchase of U.S. assets rose to $90.0 billion in August, the most in seven months, from an upwardly revised figure of $67.2 billion the previous month. The median forecast of five economists surveyed by Bloomberg News had projected net buying at $48.0 billion.

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 17, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

 

Previous

Oct. 17

 

AUD

 

 

MI Leading Index (MoM) 

0.5%

 

 

0.3% 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 18

01:30

AUD

NAB Quarterly Business Confidence 

 

-2.00 

 

03:00

CNY

Chinese Fixed Asset Investment (YoY) 

20.2% 

20.2% 

 

03:00

CNY

Chinese GDP (YoY) 

7.4% 

7.6% 

 

03:00

CNY

Chinese Industrial Production (YoY) 

9.0% 

8.9% 

 

03:00

CNY

Chinese Retail Sales (YoY) 

13.2% 

13.2% 

Government Bond Auction

Date Time Country 

Oct 18 08:30 Spain           

Oct 18 08:50 France 

Oct 18 09:30 UK 

Oct 18 09:50 France 

Oct 18 14:30 Sweden 

Oct 18 15:00 US 

Oct 18 17:00 US 

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