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

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Published: Nov 9, 2015, 03:24 UTC

Analysis and Recommendation: The USD/JPY jumped close to the top of its 2015 trading range after the dollar soared on the release of a better than

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

Analysis and Recommendation:

The USD/JPY jumped close to the top of its 2015 trading range after the dollar soared on the release of a better than expected US jobs report. The dollar surged on a shift to a December rate increase by the US central bank sending the pair to its highest level since the Bank of Japan injected its surprise stimulus package in October 2014. The yen is trading at 123.41 and continues to decline. Asian stocks slipped and the dollar stood at a 7-month high against its peers early on Monday after robust U.S. jobs data bolstered expectations of a Federal Reserve interest rate hike in December. The yen fell 0.3 percent to 123.45 per dollar, extending losses at its weakest level since Aug. 21. Japan’s currency typically moves at odds with the nation’s exporter-heavy stock indexes.

Data on Friday showed nonfarm payrolls increased 271,000 in October, the largest gain since last December. The unemployment rate fell to 5.0 percent, the lowest since April 2008. U.S. employers added 271,000 workers to nonfarm payrolls last month, up from an increase of 137,000 in September and blowing past the 185,000 advance projected by economists. The jobless rate dropped to 5 percent.

Prospects of the Fed hiking rates for the first time in almost a decade and ending seven years of easy monetary policy, which have pump-primed global markets with flush liquidity, weighed on riskier assets.

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
EUR	German Trade Balance (Sep)		20.0B	19.6B
EUR	Eurogroup Meetings
USD	FOMC Member Rosengren Speaks

Upcoming Economic Events that you should be monitoring:

Tuesday, November10, 2015

Cur.	Event	Actual	Forecast	Previous
JPY	Current Account n.s.a. (Sep)		2.235T	1.653T
GBP	BRC Retail Sales Monitor (YoY) (Oct)			2.6%
AUD	Home Loans (MoM) (Sep)			2.9%
AUD	NAB Business Confidence (Oct)			5
CNY	CPI (MoM) (Oct)		-0.2%	0.1%
CNY	CPI (YoY) (Oct)		1.5%	1.6%
CNY	PPI (YoY) (Oct)		-5.8%	-5.9%
EUR	EU Finance Ministers Meeting
USD	Export Price Index (MoM) (Oct)		-0.2%	-0.7%
USD	Import Price Index (MoM) (Oct)		-0.1%	-0.1%