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USD/JPY Fundamental Analysis October 21, 2014 Forecast

By:
Barry Norman
Updated: Aug 25, 2015, 02:00 UTC

Analysis and Recommendation: The USD/JPY gained 34 points as traders sent the yen spiraling down after the Bank of Japan said that it would continue its

USD/JPY Fundamental Analysis October 21, 2014 Forecast

USD/JPY Fundamental Analysis October 21, 2014 Forecast
USD/JPY Fundamental Analysis October 21, 2014 Forecast
Analysis and Recommendation:

The USD/JPY gained 34 points as traders sent the yen spiraling down after the Bank of Japan said that it would continue its stimulus program indefinitely. In a speech early today Governor Kudora said that the BOJ will maintain QQE for as long as needed to achieve 2% inflation in stable manner and will adjust policy as needed, looking at upside, downside risks to economy, prices. He said some weakness seen in output and that Core inflation likely around 1.25% for some time.

Shinzo Abe has hinted that he may delay increasing Japan’s consumption tax, saying the move would be “meaningless” if it inflicted too much damage on the country’s economy.

Prime Minister Shinzo Abe looks set lose a prime supporter, and cabinet ministers on Monday in the biggest setback since he took office in 2012, with media reports the trade and industry minister had resigned and Abe was considering replacing his justice minister.

Trade and industry Minister Yuko Obuchi, 40, the daughter of a prime minister and tipped as a future contender to become Japan’s first female premier, tendered her resignation over allegations her support groups misused political fund

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 actual vs. forecast:

 

Cur.

 

Event

Actual

Forecast

Previous

 

 

Holiday

Kenya – Mashujaa Day

 

  JPY

 

BoJ Governor Kuroda

 

 

 

 

 

USDJPY(15 minutes)20141020055828

Upcoming Economic Events that you should be monitoring:

 

Cur.

Imp.

Event

Actual

Forecast

Previous

 

  CNY

 

Fixed Asset Investment

 

16.3%

16.5%

 

 

  CNY

 

GDP (QoQ) (Q3)

 

1.8%

2.0%

 

 

  CNY

 

GDP (YoY) (Q3)

 

7.2%

7.5%

 

 

  CNY

 

Industrial Production

 

7.5%

6.9%

 

 

  USD

 

Existing Home Sales

 

5.10M

5.05M

 

 

  USD

 

Existing Home Sales

 

1.0%

-1.8%

 

Government Bond Auction

Date Time Country Auction

Oct 21 10:30 Spain 3 & 9M T-bill auction

Oct 21 11:00 Norway Bond auction

Oct 21 11:00 UK Auctions 2.75% 2024 Gilt

Oct 22 11:30 Germany Eur 2.0bn Aug 2046 Bund auction

Oct 23 11:03 Sweden I/L bond auction

Oct 23 17:00 US Announces 2/5/7Y Note & 2Y FRN auctions on Oct 28/29/30 & 29

Oct 23 17:30 Italy Announces details of BTPei/CTZ auctions on Oct 28

Oct 23 19:00 US 30Y TIPS auction

Oct 24 17:30 Italy Announces details of BOT auction on Oct 29

 

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