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USD/JPY Fundamental Analysis – August 10, 2015 – Forecast

By:
Barry Norman
Published: Aug 7, 2015, 03:43 UTC

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

USD/JPY Fundamental Analysis – August 10, 2015 – Forecast

usdjpy friday bnsnla
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 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

 

  AUD

 

Home Loans (MoM) (Jun)

4.4%

5.0%

-7.3%

   

  AUD

 

RBA Monetary Policy Statement 

 

 

     

 

USDJPY(15 minutes)20150807055726

Upcoming Economic Events that you should be monitoring:

Monday, August 10, 2015

 

Event

 

 

Previous

   

 

JPY

Eco Watchers Survey: Current (Jul)

   

51

   

JPY

Eco Watchers Survey: Outlook (Jul)

   

53.5

   

USD

Labor Market Conditions Index (Jul)

   

0.8

   

NZD

Electronic Card Retail Sales (MoM)

   

0.5%

   

NZD

Electronic Card Retail Sales (YoY)

   

5%

   

GBP

BRC Retail Sales Monitor – All (YoY)

   

1.8%

   
                       

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

 

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