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USD/JPY Fundamental Analysis – November 12, 2015 – Forecast

By:
Barry Norman
Published: Nov 11, 2015, 04:46 UTC

Analysis and Recommendation: The USD/JPY dipped 29 points matching the decline in the US dollar and is trading at 122.87 remaining near the top of its

USD/JPY Fundamental Analysis – November 12, 2015 – Forecast

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Analysis and Recommendation:

The USD/JPY dipped 29 points matching the decline in the US dollar and is trading at 122.87 remaining near the top of its trading range. he euro sank to a six-month low against the dollar on Tuesday as investors bet the Federal Reserve will raise interest rates next month, while its Eurozone counterpart mulls further easing.

The euro was under pressure from remarks by Erika Liikanen, a member of the European Central Bank’s governing council. “ECB member Liikanen said that the central band stands ready and willing to act, firming speculation that a cut in the deposit rate is in the works for December,” XE Market Analysis said.

Reports on Chinese retail sales, factory output and fixed-asset investment due Wednesday comes on the heels of data indicating the world’s No. 2 economy faces a deflationary threat. Last quarter, global markets were at their most volatile in four years with concern over the impact globally of a slowdown in China sparked by the country’s surprise currency devaluation and equity rout.

A Japanese government panel of representatives from academic and business sectors will call for a sharp hike in the minimum wage to boost nominal gross domestic product to ¥600 trillion within five years, sources close to the matter said Tuesday.

The current account surplus in the April to September period more than quadrupled from a year earlier, the government said Tuesday. There was a notable gain in the travel surplus in addition to a fall in the value of imports due to cheaper crude oil.

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

 

  NZD

 

RBNZ Gov Wheeler Speaks  

 

 

 

 

 

  USD

 

API Weekly Crude Oil Stock

6.300M

0.500M

2.800M

 

 

  AUD

 

Westpac Consumer Sentiment

3.9%

 

4.2%

 

 

  CNY

 

Fixed Asset Investment (YoY) (Oct)

 

10.2%

10.3%

 

 

  CNY

 

Industrial Production (YoY) (Oct)

 

5.8%

5.7%

   

 

USDJPY

Upcoming Economic Events that you should be monitoring:

Thursday, November 12, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  NZD

 

Business NZ PMI (Oct)

 

 

55.4

 

 

  GBP

 

RICS House Price Balance (Oct)

 

45%

44%

 

 

  AUD

 

Unemployment Rate (Oct)

 

6.2%

6.2%

 

 

  EUR

 

German CPI (MoM) (Oct)

 

0.0%

0.0%

 

 

  EUR

 

Industrial Production (MoM) (Sep)

 

-0.1%

-0.5%

 

 

  USD

 

Initial Jobless Claims

 

270K

276K

 

 

  USD

 

FOMC Member Bullard Speaks  

 

 

 

 

 

  USD

 

JOLTs Job Openings (Sep)

 

5.370M

5.370M

 

 

  USD

 

Crude Oil Inventories

 

0.752M

2.847M

 

 

  USD

 

FOMC Member Dudley Speaks  

 

 

 

 

 

  USD

 

Federal Budget Balance (Oct)

 

-130.0B

91.0B

   

Government Bond Auctions

Date Time Country

Nov 11 11:03 Sweden Holds bond auction

Nov 11 11:30 Germany Eur 3bn 0.25% Oct 2020 Bobl

Nov 11 12:15 Norway Holds bond auction

Nov 12 11:10 Italy Auctions BTPs/CCTeus

Nov 12 11:30 UK 4.25% 2039 Gilt auction

Nov 12 19:00 US Holds 30-year bond auction

Nov 18 11:30 Germany New Eur 5bn Dec 2017 Schatz

Nov 18 10:30 UK 2% 2025 Gilt auction

Nov 18 10:30 Portugal Eur 1-1.25bn; bond auction

Nov 18 15:30 Sweden Announces details of Bond on 25 Nov

Nov 18 N/A Holland Announces details of Bond on 24 Nov

Nov 19 09:30 Spain Auctions Bonos/Obligaciones

Nov 19 10:50 France Auctions BTANs

Nov 19 11:50 France Auctions OATi

Nov 19 N/A US Holds 10-year TIPS auction

Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov

 

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