USD/JPY Fundamental Analysis September 28, 2012 Forecast

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Analysis and Recommendation:

The USD/JPY is trading this morning at 77.66 as trader’s flight to safety continues to strengthen the yen. The BoJ and MoF are considering ways to reduce the value of the JPY, with the MoF embarking on a program of global bond buying to help support foreign currency.

Between global concern over the EU problem with ongoing tensions in Spain and Greece, the likelihood of a withdrawal from the EU becomes more possible. The troika is at the point of giving up hopes on Greece and markets and EU leaders are getting tired of the games from Spain.

This morning China also bumped up the odds by adding more liquidity to the markets through additional repo action by the PBoC. The National Bureau of Statistics said in Beijing that Chinese industrial companies’ profits dropped for a fifth month in August. Today’s report may increase pressure on Wen to step up easing measures as risks grow that annual expansion will be the weakest in 22 years.

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 September 27, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

Previous

 

 

Sep. 27

 

NZD

 

 

Business Confidence 

17.00

19.50 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Sep. 28 

00:30

JPY

Tokyo Core CPI (YoY) 

-0.3%

-0.5%

 

00:50

JPY

Industrial Production (MoM) 

-0.5%

-1.0%

 

00:50

JPY

Retail Sales (YoY) 

-0.2%

-0.8%

 

13:30

USD

Core PCE Price Index (MoM) 

0.1%

0.0%

 

13:30

USD

Personal Spending (MoM) 

0.5%

0.4%

 

14:45

USD

Chicago PMI 

52.9

53.0

 

14:55

USD

Michigan Consumer Sentiment 

78.9

79.2

Government Bond Auction

Date Time Country 

Oct 01 10:00 Norway 

Oct 02 09:15 Austria 

Oct 02 09:30 Belgium 

Oct 02 09:30 UK 

Oct 02 14:30 UK 

Oct 03 09:10 Sweden 

Oct 03 10:00 Norway 

Oct 04 08:30 Spain 

Oct 04 08:50 France 

Oct 04 15:00 US 

Oct 05 15:30 Italy 

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About: FX Empire Analyst - Barry Norman

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