USD/JPY Fundamental Analysis September 7, 2012, Forecast

Posted September 07, 2012 5:08 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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%

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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About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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