USD/JPY Fundamental Analysis September 11, 2012, Forecast

Posted September 10, 2012 4:11 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The USD/JPY is trading at 78.23, as the US dollar weakened since the release of the Nonfarm payroll data on Friday. Based on Mr. Bernanke’s Jackson Hole address, one of his primary concerns was lackluster employment and the need for the Fed to step in and help create jobs. With the report showing that the US only created a meager number of new jobs, well below forecast and below what is needed on an annual basis, it is now the Fed’s responsibility to develop and initiate action that will create new jobs to help stimulate the US economy.

On the other side of the Pacific, Japanese data released this morning was fairly lackluster, but it did not seem to weaken the JPY against the dollar but against the crosses the JPY has fallen with the EUR/JPY breaking above the 100.00 price level.

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Economic Data September 10, 2012 actual v. forecast

Date	Time	Currency	Event	Actual	Forecast	Previous
Sep. 10	00:50	JPY	Adjusted Current Account	0.34T	0.39T	0.77T
	00:50	JPY	GDP (QoQ)	0.2%	0.3%	0.3%
	00:50	JPY	GDP Price Index (YoY)	-0.9%	-1.1%	-1.1%
	00:50	JPY	Bank Lending (YoY)	0.9%		0.7%
	02:00	CNY	Chinese Trade Balance	26.66B	19.80B	25.10B
	02:00	CNY	Chinese Exports (YoY)	2.70%	3.00%	1.00%
	02:30	AUD	Home Loans (MoM)	-1.0%	0.1%	1.0%

Chinese Economic Data released on September 9, 2012 actual v. forecast ( this is important )

Sep. 09