Analysis and Recommendation: The USD/JPY gained 7 points to trade at 124.81 moving towards the top of its range as the US dollar gained momentum ahead of
The USD/JPY gained 7 points to trade at 124.81 moving towards the top of its range as the US dollar gained momentum ahead of the NFP report due later today. Business sentiment in Japan rose for the first time in four months in July thanks to hefty consumption by overseas visitors, according to a Teikoku Databank Ltd. survey.
Investors refrained from stepping up dollar purchases as “a sense of achievement grew among investors” after the U.S. currency exceeded ¥125 overnight, an official at a foreign exchange broker said.
In late hours, the dollar rose moderately against the yen in line with its strength against the euro, but its gains against the Japanese currency were limited as investors retreated to the sidelines before the U.S. jobs data, market sources said.
“It appears difficult for the dollar to chase higher ground before the jobs data come out,” an official at another currency broker said.
In New York on Thursday, the dollar slightly retreated against other major currencies as U.S. stocks closed sharply lower amid weak earnings reports as well as nervousness ahead of nonfarm payrolls data that could contain hints about the timing of an interest rate hike by the Federal Reserve.
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.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
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AUD |
Home Loans (MoM) (Jun) |
4.4% |
5.0% |
-7.3% |
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AUD |
RBA Monetary Policy Statement |
|
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Upcoming Economic Events that you should be monitoring:
Monday, August 10, 2015
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Event |
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Previous |
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JPY |
Eco Watchers Survey: Current (Jul) |
51 |
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JPY |
Eco Watchers Survey: Outlook (Jul) |
53.5 |
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USD |
Labor Market Conditions Index (Jul) |
0.8 |
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NZD |
Electronic Card Retail Sales (MoM) |
0.5% |
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NZD |
Electronic Card Retail Sales (YoY) |
5% |
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GBP |
BRC Retail Sales Monitor – All (YoY) |
1.8% |
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Government Bond Auctions
Date Time Country
Aug 10 17:30 Italy Announces details of BTP/CCTeu on 13 Aug
Aug 11 11:30 UK Auctions 0.125% 2058 I/L Gilt
Aug 12 11:30 Germany Eur 4bn Aug 2025 Bund
Aug 13 11:10 Italy Auctions BTPs/CCTeus
Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz
Aug 19 11:03 Sweden Holds bond auction
Aug 20 10:30 Spain Auctions Bonos/Obligaciones
Aug 20 11:30 UK Auctions 4.25% 2036 Gilt
Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug