USD/JPY Fundamental Analysis – November 4, 2015 – Forecast

Analysis and Recommendation:

The USD/JPY dipped 9 points to trade at 120.67 as the yen remains polarized to the 120.5 level. Japan is on holiday today for Culture Day with no trading. The US dollar eased a bit in the Asian session but there has been low volume or interest.

The U.S. dollar traded mixed against other major currencies Monday as investors were digesting economic data both from the country and Eurozone.

On the U.S. economic front, the Institute for Supply Management said Monday that the country’s October manufacturing Purchasing Managers’ Index (PMI) registered 50.1 percent, a decrease of 0.1 percentage point from the September reading of 50.2 percent, but above market consensus of 50.0 percent.

Meanwhile, financial data firm Markit reported Monday that the final reading on U.S. PMI in October picked up to a six month high at 54.1, up from 53.1 in September. U.S. consumers’ personal income and spending data came out lower than expected. In September, the two figures increased 0.1 percent respectively, the Commerce Department said Friday.

Dollar traders are waiting for Friday’s jobs data which could some indication to the Fed actions in December.

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:

 

Upcoming Economic Events that you should be monitoring:

Wednesday, November 4, 2015

Government Bond Auctions

Date Time Country

Nov 03 10:10 Austria Holds RAGB bond sale

Nov 04 15:30 Sweden Announces details of Bond on 11 Nov

Nov 04 N/A Holland Announces details of Bond on 10 Nov

Nov 05 09:30 Spain Auctions Bonos

Nov 05 09:50 France Auctions OATs

Nov 05 10:03 Sweden Holds I/L bond auction

Nov 09 12:00 Norway Details bond auction on 11 Nov

Nov 09 15:30 Italy Announces details of BTPs/CCTeu on 12 Nov

Nov 09 N/A US Holds 3-year note auction

Nov 10 10:30 UK 0.125% 2058 I/L Gilt auction

Nov 10 N/A Holland Eur 2.0-3.0bn 0% Apr 2018 DSL

Nov 10 N/A US Holds 10-year note auction

Nov 11 10:03 Sweden Holds bond auction

Nov 11 11:15 Norway Holds bond auction

Nov 11 10:30 Germany Eur 3bn 0.25% Oct 2020 Bobl

Nov 12 10:10 Italy Auctions BTPs/CCTeus

Nov 12 10:30 UK 4.25% 2039 Gilt auction

Nov 12 N/A US Holds 30-year bond auction