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USD/JPY Analysis Forecast, May 20, 2015 – Forecast

Analysis and Recommendation (USD/JPY Analysis Forecast For 20 May):

The USD/JPY continued to climb closer to the 120 level as the greenback gained momentum and the Japanese yen eased after lackluster data on Monday.  The dollar was last up 1.2 percent at $1.1310 against the euro, which had risen more than 8 percent against the greenback in the previous month. The dollar index was last ahead 1.13 percent.

A recent run of softer-than-expected U.S. economic data has encouraged bets that the Fed will hold off on its first interest rate hikes in nearly a decade, and that has interrupted several months of dollar gains against key world currencies.

Japan’s industrial production declined more than expected according to the final data released by the Ministry of Economy, Trade and Industry. The Industrial production index fell to 0.8 percent as compared to the initial estimates for a decline of 0.3 percent.  On an annualized basis, industrial production declined to 1.7 percent as compared to the 1.3 percent expected earlier. Bank of Japan chief is looking at a pickup in industrial activity to reduce the slack in the economy. All eyes would be on the Bank of Japan meeting with many believing that the central bank might add to the stimulus to kick start the economy.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. 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.

usdjpy chart

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  NZD PPI Input (QoQ) (Q1) -1.1% -0.7% -0.4%
  AUD Monetary Meeting Minutes
  NZD Inflation Expectations (QoQ) 1.8%

 

Upcoming Economic Events that you should be monitoring for USD/JPY in forex trading:

Wednesday, May 20, 2015

Cur. Event Actual Forecast Previous
  JPY GDP (QoQ) (Q1) 0.4% 0.4%
  JPY GDP (YoY) (Q1) 1.5% 1.5%
  AUD Westpac Consumer Sentiment -3.2%
  EUR German PPI (MoM) (Apr) 0.2% 0.1%
  GBP BoE MPC Meeting Minutes
  CAD Wholesale Sales (MoM) (Mar) 0.7% -0.4%
  USD Crude Oil Inventories -2.191M
  USD FOMC Meeting Minutes

Government Bond Auctions

Date Time Country

May 20 09:03 Sweden Holds bond auction

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

 

USD/JPY analysis forecast

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