USD/JPY Fundamental Analysis September 7, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendation:

The USD/JPY is trading at 78.93. With the announcement from the ECB official, traders sentiment soared and risk off and risk aversion became words of the past. The JPY weakened as traders moved into more risk and back into eurozone assets.

This allowed the US dollar to gain some momentum, breaking out of the lower 78 range to trade close to 79, heading towards 80. The USD has been continuously adding pips since the release yesterday.

Today is the big day for the US, the nonfarm payroll report is due, and it will give traders another piece of the FOMC puzzle.

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 6, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 07

 

PEN

 

 

Peruvian Interest Rate Decision 

4.25%

 

4.25% 

 

4.25% 

 

 

 

 

AUD

 

 

AIG Construction Index 

32.2

 

 

 

32.6 

 

 

 

 

AUD

 

 

Trade Balance 

-0.56B

 

-0.30B 

 

-0.23B 

   

 

 

MYR

 

 

Malaysian Trade Balance 

3.60B

 

9.10B 

 

9.20B 

   

 

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

Date

Time

Currency

Event

Previous

Sep. 10

00:50

JPY

GDP (QoQ) 

0.3% 

 

02:30

AUD

Home Loans (MoM) 

1.3% 

Government Bond Auction

Date Time Country 

Sep 10 09:30 Germany 

Sep 10 15:30 Italy  

Sep 11 00:30 Japan 

Sep 11 08:30 Holland 

Sep 11 09:10 Greece 

Sep 11 09:30 UK 

Sep 11 14:30 UK 

Sep 11 17:00 US

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