USD/JPY Fundamental Analysis March 14, 2013 Forecast

The USD/JPY surprised traders showing a bit of strength on Tuesday afternoon and continuing into Wednesday morning trade, with the JPY gaining 29 points to trade at 95.78 after moving well into the 96.00 range on Tuesday speculator bought the currency at recent record lows. Yesterday the Democratic Party of Japan said it will support Haruhiko Kuroda as the next Bank of Japan governor but will oppose Gakushuin University professor Kikuo Iwata’s nomination as one of the two BOJ deputy governors because of his extreme stance on monetary policy.

Mr. Kuroda said earlier this week that he would call an emergency meeting of the central bank to start changing policy immediately and not wait until the next meeting in April moving quickly to follow the desires of the new Prime Minister. The JPY remains weak as further monetary stimulus is guaranteed.

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.

Economic Data March 13, 2013 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Mar. 13

 

KRW

 

 

South Korean Unemployment Rate

3.5%

 

3.2%

 

3.2%

 

 

AUD

 

 

Westpac Consumer Sentiment

2.00%

 

 

 

7.70%

 

 

AUD

 

 

Home Loans (MoM)

-1.5%

 

0.6%

 

-2.1%

 

KRW

 

 

South Korean M2 Money supply

8.00%

 

 

 

8.00%

 

USDJPY 0313BNS

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Forecast

Previous

Mar. 14

00:30

AUD

Employment Change

9.0K

10.4K

04:30

JPY

Industrial Production (MoM)

1.0%

1.0%

12:30

USD

Core PPI (MoM)

0.2%

0.2%

12:30

USD

Current Account

-112.8B

-107.5B

12:30

USD

PPI (MoM)

0.7%

0.2%

12:30

USD

Initial Jobless Claims

350K

340K

12:30

USD

Continuing Jobless Claims

3100K

3094K

12:30

USD

PPI (YoY)

1.7%

1.4%

12:30

USD

Core PPI (YoY)

1.7%

1.8%

Date

Time

Currency

Event

Forecast

Previous

Mar. 14

00:30

AUD

Employment Change

9.0K

10.4K

04:30

JPY

Industrial Production (MoM)

1.0%

1.0%

12:30

USD

Core PPI (MoM)

0.2%

0.2%

12:30

USD

Current Account

-112.8B

-107.5B

12:30

USD

PPI (MoM)

0.7%

0.2%

12:30

USD

Initial Jobless Claims

350K

340K

12:30

USD

Continuing Jobless Claims

3100K

3094K

12:30

USD

PPI (YoY)

1.7%

1.4%

12:30

USD

Core PPI (YoY)

1.7%

1.8%

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