USD/JPY Fundamental Analysis September 14, 2012, Forecast
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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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