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USD/JPY Analysis Forecast – June 15, 2015 – Forecast

usdjpy friday bnsnlaAnalysis and Recommendation:

The USD/JPY added 3 points to trade at 123.45 as traders waiting for industrial production and tertiary activity index. The greenback gained a few points in the morning session. The yen fell against the dollar and the euro Thursday, with dip buying kicking in to bring the greenback back from the lows caused by comments by the head of the Bank of Japan the previous day. A person close to the Japanese government suggested Thursday that Prime Minister Shinzo Abe’s administration was displeased with Gov. Haruhiko Kuroda’s comments, a remark that also helped nudge up the greenback.

The person said the central bank chief wasn’t speaking for the Abe administration when he made the comments that sparked a sharp rise in the yen. Government officials generally view the finance ministry as having control of foreign-exchange policy and take a dim view of remarks by central bank officials that cause sharp fluctuations in the market.

Earlier in the day, dip buying was the main source of dollar demand as investors sought to take advantage of the fall in the greenback following Kuroda’s comments.

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

 

 

 

 

Russia – Russia Day

  NZD

 

Business NZ PMI (May)

51.5

 

51.8

 

 

  JPY

 

Industrial Production (MoM)

 

1.0%

1.0%

 

 

  JPY

 

Tertiary Industry Activity Index

 

0.4%

-1.0%

   

 usdjpy fri

Upcoming Economic Events that you should be monitoring:

Monday, June 15, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  CHF

 

Retail Sales (YoY) (Apr)

 

 

-2.8%

 

 

  CHF

 

PPI (MoM) (May)

 

 

-2.1%

 

 

  EUR

 

Trade Balance (Apr)

 

 

23.4B

 

 

  RUB

 

Interest Rate Decision (Jun)

 

11.50%

12.50%

 

 

  USD

 

NY Empire State Manufacturing

 

5.20

3.09

 

 

  CAD

 

Manufacturing Sales (MoM)

 

 

2.9%

 

 

  USD

 

Industrial Production (MoM)

 

0.2%

-0.3%

   

Government Bond Auctions

Date Time Country

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun

 

USD/JPY analysis forecast

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