Weekly Analysis and Recommendation: The USD/JPY ended the week at 85.88 off the weekly high of 86.63 its strongest since August 2010. Traders reported
The USD/JPY ended the week at 85.88 off the weekly high of 86.63 its strongest since August 2010. Traders reported options barriers at 86.75 and 87.00 yen. Expectations the new Japanese government will push for further easing in monetary policy have weighed heavily on the yen and analysts say it could fall further. The yen has hit more than two-year lows against the dollar for three straight days. The dollar has gained 12 percent against the yen in 2012, putting it on track for its biggest annual percentage drop since 2005. The dollar looked set to end the week above its 200-week moving average, now around 84.95 yen, for the first time since late December 2007, a technical signal indicating further gains.
Date |
Last |
Open |
High |
Low |
Change % |
Dec 28, 2012 |
85.88 |
86.50 |
86.55 |
85.88 |
-0.71% |
Dec 27, 2012 |
86.49 |
85.69 |
86.63 |
85.59 |
0.94% |
Dec 26, 2012 |
85.69 |
85.02 |
85.72 |
85.02 |
0.79% |
Dec 25, 2012 |
85.02 |
84.87 |
85.06 |
84.77 |
0.17% |
Dec 24, 2012 |
84.87 |
84.42 |
84.87 |
84.33 |
0.53% |
This is a short holiday week with many markets closed on Monday as well as Tuesday.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic Events for the week of December 24 -28 actual v. forecast for Yen, the Aussie, the Kiwi and USD
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
Dec. 27 |
USD |
Initial Jobless Claims |
350K |
360K |
362K |
|
USD |
Continuing Jobless Claims |
3206K |
3200K |
3238K |
|
USD |
CB Consumer Confidence |
65.1 |
70.0 |
71.5 |
|
USD |
New Home Sales |
377K |
378K |
361K |
|
JPY |
Tokyo Core CPI (YoY) |
-0.6% |
-0.5% |
-0.5% |
|
JPY |
Industrial Production (MoM) |
-1.7% |
-0.5% |
1.6% |
|
JPY |
Retail Sales (YoY) |
1.3% |
1.1% |
-1.2% |
Dec. 28 |
USD |
Chicago PMI |
51.6 |
51.0 |
50.4 |
|
USD |
Pending Home Sales (MoM) |
1.7% |
1.0% |
5.0% |
Historical: From 2010 to present
Highest: 94.99 on May 05, 2010
Average: 82.77 over this period
Lowest: 75.58 on Oct 31, 2011
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Jan. 01 |
01:00 |
CNY |
51.00 |
50.60 |
|
Jan. 02 |
15:00 |
USD |
50.2 |
49.5 |
Upcoming Government Bond
Date Time Country
Thursday, January 5: France will auction an estimated €7-8 billion ($9.1-10.4 billion) in 10-year and other long-term bonds
Tuesday, January 10: Austria will auction €1.3 billion ($1.7 billion) in 5- and 10-year bonds
Thursday, January 12: Spanish 3- and 5-year bond auction
Friday, January 13: Italy will auction medium-long term bonds
Thursday, January 19: France will auction 5-year bonds
Thursday, January 19: Spanish 10-, 15-, and 30-year bond auction
Thursday, January 26: Italian long-term bond auction
Monday, January 30: Italian medium-long term bond auction
Monday, January 30: Belgian bond auction