USD/JPY Fundamental Analysis – August 11, 2015 – Forecast

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Published: Aug 10, 2015, 04:40 UTC

Analysis and Recommendation: The USD/JPY climbed 9 points after lackluster Japanese current account data weighed heavily on the yen. The US dollar traded

USD/JPY Fundamental Analysis – August 11, 2015 – Forecast

Analysis and Recommendation:

The USD/JPY climbed 9 points after lackluster Japanese current account data weighed heavily on the yen. The US dollar traded a bit stronger after a solid jobs report on Friday. Japan posted a current account surplus of 558.6 billion yen in June, the Ministry of Finance said on Monday.

That was shy of expectations for a surplus of 785.9 billion yen following the 1.880 trillion yen surplus in May.

The trade balance reflected a surplus of 102.6 billion yen – also below forecasts for 119.7 billion yen following the 47.3 billion yen shortfall in the previous month.

Exports were up 5.6 percent on year to 6.456 trillion yen following the 0.1 percent decline in the previous month. Imports tumbled an annual 4.6 percent to 6.353 trillion yen after skidding 10.3 percent on year a month earlier.

The capital account had a deficit of 11.3 billion yen, the ministry said, while the financial account saw a shortfall of 265.4 billion yen.

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.

This weekend and today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
CNY	Exports (YoY) (Jul)	-8.3%	-1.0%	2.8%
CNY	Imports (YoY) (Jul)	-8.1%	-8.0%	-6.1%
CNY	Trade Balance (Jul)	43.03B	53.25B	46.54B
CNY	CPI (MoM) (Jul)	0.3%	0.3%	0.0%
CNY	CPI (YoY) (Jul)	1.6%	1.5%	1.4%
CNY	PPI (YoY) (Jul)	-5.4%	-5.0%	-4.8%
JPY	Adjusted Current Account	1.30T	1.41T	1.64T
JPY	Current Account n.s.a. (Jun)	0.559T	0.774T	1.881T
JPY	BoJ Monthly Report

Upcoming Economic Events that you should be monitoring:

Tuesday, August 11, 2015

Cur.	Event	Actual	Forecast	Previous
AUD	NAB Business Confidence (Jul)			10
EUR	German ZEW Current Conditions		64.4	63.9
EUR	German ZEW Economic Sentiment		32.0	29.7
CAD	Housing Starts (Jul)		195.0K	202.8K
USD	Nonfarm Productivity (QoQ) (Q2)		1.6%	-3.1%
USD	Unit Labor Costs (QoQ) (Q2)		0.2%	6.7%
USD	API Weekly Crude Oil Stock			-2.400M