USD/JPY Fundamental Analysis September 14, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendation:

The USD/JPY dipped again this morning to trade at 77.74 as the greenback weakens ahead of the FOMC meeting conclusion later today.

The BoJ is becoming more verbal again as its September 19th meeting approaches. The BoJ is being forced into aggressive action as central banks from around the globe move to jump start their economy. The BoJ is stuck in a difficult with the JPY trading too strongly it is hurting exports that the economy depends on, but monetary stimulus might bring back inflation and other economic negatives. With the Fed's about to offer stimulus, markets are waiting to see if everything has already been factored into prices.

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 Events forecast vs. actual September 13, 2012

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 13

 

NZD

 

 

Interest Rate Decision 

2.50%

 

2.50% 

 

2.50% 

   

 

 

NZD

 

 

RBNZ Rate Statement 

 

 

 

 

 

   

 

 

NZD

 

 

RBNZ Monetary Policy Statement 

 

 

 

 

 

 

 

 

 

KRW

 

 

South Korean Interest Rate Decision 

3.00%

 

2.75% 

 

3.00% 

 

 

 

Upcoming Economic Events

Date

Time

 

Currency

 

 

Event

 

Forecast

 

Previous

Sep. 14

05:30

 

JPY

 

 

Industrial Production (MoM) 

 

-1.2% 

 

-1.2% 

 

10:00

 

EUR

 

 

CPI (YoY) 

 

2.6% 

 

2.6% 

 

10:00

 

EUR

 

 

Employment Change (QoQ) 

 

-0.2% 

 

-0.2% 

 

10:00

 

EUR

 

 

Core CPI (YoY) 

 

1.7% 

 

1.7% 

 

13:30

 

USD

 

 

Core CPI (MoM) 

 

0.2% 

 

0.1% 

 

13:30

 

USD

 

 

Core Retail Sales (MoM) 

 

0.6% 

 

0.8% 

 

13:30

 

USD

 

 

CPI (MoM) 

 

0.5% 

 

0.0% 

 

13:30

 

CAD

 

 

Manufacturing Sales (MoM) 

 

1.00% 

 

-0.40% 

 

13:30

 

USD

 

 

Retail Sales (MoM) 

 

0.7% 

 

0.8% 

 

14:15

 

USD

 

 

Industrial Production (MoM) 

 

0.2% 

 

0.6% 

 

14:55

 

USD

 

 

Michigan Consumer Sentiment 

 

74.1 

 

74.3 

Government Bond Auctions

Date and Country

Sep 13 00:30 Japan 

Sep 13 09:10 Italy  

Sep 13 09:30 UK 

Sep 13 15:00 US 

Sep 13 17:00 US 

Sep 14 10:00 Belgium

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