USD/JPY Fundamental Analysis October 26, 2012 Forecast

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By FX Empire Analyst - Barry Norman
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USD/JPY Fundamental Analysis October 26, 2012 Forecast

USD/JPY Fundamental Analysis October 26, 2012 Forecast

Analysis and Recommendation:

The USD/JPY climbed to 79.77 as the US dollar gains momentum on positive eco data. Yesterday, US new home sales reported well above forecast. The FOMC concluded its two day meeting with the release of a statement that held current policy and was little changed from its prior statement.

In Japan the government continues to add pressure on the BoJ to add additional stimulus at its next meeting on October 30th. Markets are now expecting the BoJ to at least double its current asset program from 5 billion yen to 10 billion yen. Additional stimulus is helping to reduce the strength of the JPY, allowing the USD to rise.

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 25, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 25

 

JPY

 

 

CSPI (YoY) 

-0.5%

 

-0.4% 

 

-0.3% 

 

 

PHP

 

 

Philippines Trade Balance 

-1259.0M

 

-640.0M 

 

-236.0M 

 

 

JPY

 

 

2-Year JGB Auction 

0.098%

 

 

 

0.100% 

 

 

SGD

 

 

Singaporean Industrial Production (YoY) 

-2.5%

 

1.9% 

 

-2.3% 

 

 

THB

 

 

Thai Industrial Production (YoY) 

-13.7%

 

-9.9% 

 

-11.3% 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 26 

00:30

JPY

Tokyo Core CPI (YoY) 

-0.5% 

-0.4% 

 

13:30

USD

GDP (QoQ) 

1.9% 

1.3% 

 

14:55

USD

Michigan Consumer Sentiment 

83.0 

83.1 

Government Bond Auction

Date Time Country 

Oct 26 09:10 Italy

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