USD/JPY Fundamental Analysis February 20, 2012, Forecast
Economic Events: (GMT)
Feb. 19 21:45 NZD PPI Input (QoQ)
Producer Price Index (PPI) Input measures the change in the price of goods and raw materials purchased by manufacturers. The index is a leading indicator of consumer price inflation.
21:45 NZD PPI Output (QoQ)
Producer Price Index (PPI) Output measures the change in the price of goods sold by manufacturers.
Feb. 20 00:01 GBP Rightmove House Price Index (MoM)
07:00 EUR German Import Price Index (MoM)
07:00 CHF Trade Balance
08:15 CHF Employment Level
23:50 JPY Trade Balance
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
Analysis and Recommendation: ( close of Asian session )
USD/JPY was trading 79.11 up .18. The pair is higher after strong American economic data and positive sentiment in Europe caused a global rally in equities and risk currencies.
At mid day, the currency was trading at 78.82 US cents, down from 78.93 cents on Thursday.
The number of U.S. workers making new applications for unemployment benefits fell last week to the lowest level in nearly four years.
The government reporting initial claims for unemployment benefits fell by 13,000 to a seasonally adjusted 348,000 last week, the lowest since March 2008.
Other reports had housing starts up 1.5% last month, while wholesale prices climbing 0.1% in January.
Reports just received say that the ECB will exchange their currently existing old Greek bonds for new ones to avoid any legislative action issued by the Greek government to force bondholders to take a settlement.
Thursday February 16, 2012 Economic Reports forecast vs. actual
Nationwide Consumer Confidence
Swedish CPI (YoY)
Swedish Interest Rate Decision
ECB Monthly Report
Core PPI (MoM)
Foreign Securities Purchases
Manufacturing Sales (MoM)
Initial Jobless Claims
Continuing Jobless Claims
Fed Chairman Bernanke Speaks
Mexican GDP (YoY)
Philadelphia Fed Manufacturing Index
Sovereign Bond Auction Schedule
Feb 20-24 n/a UK 0.375% 2062 I/L Gilt syndication
Feb 20 10:10 Norway Nok 3bn 4.5% May 2019 DSL
Feb 20 10:10 Slovakia Eur 0.15bn Apr 2014 & Eur 0.05bn Nov 2016 bonds
Feb 21 09:30 Spain 3 & 6M T-bill auction
Feb 21 15:30 UK Details gilt auction on Mar 01
Feb 21 18:00 US Auctions 2Y Notes
Feb 22 10:10 Sweden Nominal bond auction
Feb 22 10:30 Germany Eur 5.0bn Mar 2014 Schatz
Feb 22 16:30 Italy Details CTZ/BTPei on Feb 24 & BOT on Feb 27
Feb 22 18:00 US Auctions 5Y Notes
Feb 23 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 23 16:30 Italy Details BTP/CCTeu on Feb 28
Feb 23 18:00 US Auctions 7Y Notes
Feb 24 10:10 Italy Auctions CTZ/BTP
USD/JPY Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3