USD/JPY Fundamental Analysis November 24, 2015 – Forecast

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Published: Nov 23, 2015, 04:54 UTC

Analysis and Recommendation: The USD/JPY gained 37 points pushing the pair to trade at 123.20 with Japan on holiday and the dollar rallying on safe haven

USD/JPY Fundamental Analysis November 24, 2015 – Forecast

Analysis and Recommendation:

The USD/JPY gained 37 points pushing the pair to trade at 123.20 with Japan on holiday and the dollar rallying on safe haven trades and comments from Federal Reserve members. The surge in the dollar that helped convince the Federal Reserve to refrain from raising interest rates until at least December also supports the notion that it will be a shallow path higher.

The greenback jumped 1 percent against the Aussie on Monday and reached the strongest in seven months per euro. The dollar climbed to a 12-year high this month, according to an index the Fed created to track the U.S. currency versus the nation’s biggest trading partners. The trade-weighted appreciation comes mostly against major exporters including Europe and China.

The U.S. dollar held firm against a basket of six major currencies, helped by the euro’s weakness. The dollar index hit a seven-month high of 99.977 and last stood at 99.885.

The greenback has gained this month, after strong U.S. jobs data strengthened expectations for the Fed to raise interest rates in December.

San Francisco Fed President John Williams said on Saturday that there is a “strong case” for raising interest rates when Fed policymakers meet next month, as long as U.S. economic data does not disappoint.

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:

	Event	Actual	Forecast	Previous
Holiday	Japan – Labour Thanksgiving Day

Upcoming Economic Events that you should be monitoring:

Tuesday, November 24, 2015

Cur.	Event	Actual	Forecast	Previous
EUR	German GDP (QoQ) (Q3)		0.3%	0.3%
EUR	German GDP (YoY) (Q3)		1.8%	1.8%
EUR	German Business Expectations (Nov)		104.0	103.8
EUR	German Current Assessment (Nov)		112.4	112.6
EUR	German Ifo Business Climate Index (		108.2	108.2
USD	GDP (QoQ) (Q3)		2.0%	1.5%
USD	GDP Price Index (QoQ) (Q3)		1.2%	1.2%
USD	Goods Trade Balance (Oct)			-58.63B
USD	S&P/CS HPI Composite – 20 n.s.a.		5.2%	5.1%
USD	CB Consumer Confidence (Nov)		99.5	97.6