Analysis and Recommendation (USD/JPY Forecast=:
The USD/JPY added 20 points to trade at 119.95 as the greenback recovered a bit and the yen continued to ease as traders prepare for additional stimulus from the Bank of Japan. The Japanese yen weakened marginally after April central bank board meeting minutes offered no surprises on views, while the Australian dollar was down ahead of the latest central bank economic outlook. In New York on Thursday, dollar buying took the upper hand against the safe-haven yen on bolstered risk appetite after new U.S. weekly jobless claims came out below market expectations, dealers said.
The dollar pushed higher against a basket of other major currencies on Thursday, after data showed that the number of people who filed for unemployment assistance in the U.S. rose less than expected last week and as markets turned to Friday’s nonfarm payrolls report.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 2 rose by 3,000 to 265,000 from the previous week’s total of 262,000.
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 in our weekly reports.
Today’s economic releases actual vs. forecast:
|CNY||Trade Balance (Apr)||34.13B||39.45B||3.08B|
|USD||Nonfarm Payrolls (Apr)||224K||126K|
|USD||Unemployment Rate (Apr)||5.4%||5.5%|
Upcoming Economic Events that you should be monitoring:
Monday, May 11, 2015
|Russia – Victory Day|
|AUD||NAB Business Confidence (Apr)||3|
|GBP||BoE QE Total (May)||375B|
|GBP||Interest Rate Decision (May)||0.50%||0.50%|
Government Bond Auctions
Date Time Country
May 12 09:15 Norway Holds bond auction
May 13 09:10 Italy Auctions BTPs/CCTeus
May 13 09:30 Germany Eur 3bn Feb 2025 Bund
May 13 14:30 Sweden Details bond auction on 20 May
May 14 09:30 UK Auctions 2% 2020 Conventional Gilt
USD/JPY Exchange Rate