Analysis and Recommendation: The USD/JPY saw the greenback lose a bit of momentum this morning to trade at 82.10. The market uncertainty along with
Analysis and Recommendation:
The USD/JPY saw the greenback lose a bit of momentum this morning to trade at 82.10. The market uncertainty along with political turmoil and the future plans for the Bank of Japan continue to weigh on the currency. This morning the yen rebounded a few pence as the greenback eased.
Speculators are projecting Shinto Abe to be the most likely Prime Minister and his plans and policies towards the Bank of Japan and the economy are confused and mixed. He wants to control the Bank of Japan and also force a higher inflation target and set rules that the bank will need to continue to ease until the rate is met. He would also use the bank to buy construction bonds, which failed many years ago leaving the country in deflation.
Traders are very worried, with eco data for Japan continuing to show poor results and the possibility for recession.
While the US dollar faces the upcoming fiscal cliff, but traders are sure that a last minute deal will be struck.
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 December 4, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
Previous |
|
|
Dec. 04 |
|
AUD |
|
|
Building Approvals (MoM) |
-7.6% |
|
-2.0% |
9.5% |
||
|
|
AUD |
|
|
Current Account |
-14.9B |
|
-14.8B |
-12.4B |
||
|
|
AUD |
|
|
Interest Rate Decision |
3.00% |
|
3.00% |
3.25% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 05 |
00:30 |
AUD |
0.6% |
0.6% |
|
|
13:15 |
USD |
125K |
158K |
|
|
13:30 |
USD |
2.7% |
1.9% |
|
|
13:30 |
USD |
-0.9% |
-0.1% |
|
|
15:00 |
USD |
53.5 |
54.2 |
|
|
20:00 |
NZD |
2.50% |
2.50% |
|
Dec. 07 |
00:30 |
AUD |
-2.05B |
-1.46B |
Government Bond Auction
Date Time Country
Dec 05 09:30 Spain
Dec 05 10:30 Germany
Dec 05 11:00 Norway
Dec 05 15:30 Sweden
Dec 06 01:30 Japan
Dec 06 09:50 France
Dec 06 16:00 US
Dec 07 16:30 Italy