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USD/JPY Analysis Forecast, June 05, 2015 – Forecast

usdjpy thursday bnsnlaAnalysis and Recommendation:

The USD/JPY added 22 points to trade at 124.47 after an address from Bank of Japan Kuroda. The US dollar remains weak ahead of the NFP but was able to gain a few points in the morning session.  the private sector employment in May increased 201, 000 jobs from April, the most in four months and slightly above estimates, according to the May ADP National Employment Report released Wednesday. The ADP figure is seen as a pre-indicator for the highly-focused nonfarm-payrolls report due Friday.

Traders are closely watching the progress of the Greek debt situation, but there was no clear sign of progress.

Japanese Prime Minister Shinzo Abe and central bank chief Haruhiko Kuroda met this week and discussed the global economy amid a slump in the yen to the weakest versus the dollar since 2002.

They didn’t discuss the currency, Kuroda told reporters after one of his regular meetings with Abe in Tokyo. It’s desirable for exchange rates to be stable and reflect a nation’s economic fundamentals, he said, declining to comment on the currency’s recent movement.

Bank of Japan Governor Haruhiko Kuroda says the currency rate reflects Japan’s real economic fundamentals. Kuroda added that price stability is a goal of the Japanese central bank. But some economists and politicians have expressed worries about the drawbacks of a much-weaker yen as it could outweigh benefits to exporters.

ForexTraq 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 for USD/JPY in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

 

Event

Actual

Forecast

Previous

 

  JPY

 

BoJ Governor Kuroda Speaks  

 

 

 

 

 

  AUD

 

Retail Sales (MoM) (Apr)

0.0%

0.4%

0.2%

   

  AUD

 

Trade Balance (Apr)

-3.888B

-2.250B

-1.231B

   

 USDJPY(60 minutes)20150604042833

Upcoming Economic Events that you should be monitoring:

Friday, June 05, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

Nonfarm Payrolls (May)

 

225K

223K

 

 

  USD

 

Unemployment Rate (May)

 

5.4%

5.4%

 

 

  CAD

 

Employment Change (May)

 

10.0K

-19.7K

   

Government Bond Auctions

Date Time Country

Jun 08 12:00 Norway Details bond auction on 10 Jun

Jun 08 17:30 Italy Announces details of BTP/CCTeu on 11 June

Jun 09 11:10 Austria Holds RAGB bond sale

Jun 09 11:30 UK Auctions 0.125% 2024 I/L Gilt

Jun 10 11:15 Norway Holds bond auction

Jun 10 11:30 Germany Eur 5bn Jun 2017 Schatz

Jun 10 16:30 Sweden Details bond auction on 17 June

Jun 11 11:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Holds inflation-linked bond auction

Jun 11 11:30 UK Auctions 3.5% 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

 

USD/JPY analysis forecast

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