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USD/JPY Fundamental Analysis, May 8, 2015 – Forecast

Analysis and Recommendation (USD/JPY Forecast):

The USD/JPY is holding at 119.57 remaining within its May trading range showing little reaction to the decline in the US dollar. Japanese markets reopened this morning after the long holiday which has seen markets closes since last Saturday.  Japanese stocks fell after markets reopened from holidays, with exporters declining as weak U.S. economic data sent the yen higher and investors weighed earnings.

“The U.S. economy was expected to bottom out in March and recover in the second quarter, but so far the figures for April have been poor,” said Mitsushige Aquino, executive officer at Ichiyoshi Asset Management Co. in Tokyo. “Sentiment could sour even more depending on the April payrolls report. Risk-off moves could intensify if the U.S. economic situation is deemed weak, and that could easily send the yen to 117 per dollar.”

American employers added 169,000 workers in April, the fewest in more than a year, according to a report from the Roseland, New Jersey-based ADP Research Institute. The median forecast of 43 economists surveyed by Bloomberg was for an increase of 200,000.

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:

Cur. Event Actual Forecast Previous
  AUD Employment Change (Apr) -2.9K 5.0K 48.2K
  AUD Full Employment Change (Apr) -21.9K 41.3K
  AUD Unemployment Rate (Apr) 6.2% 6.2% 6.1%

 usdjpy thurs

Upcoming Economic Events that you should be monitoring:

Friday, May 8, 2015

Cur. Event Actual Forecast Previous
  CNY Trade Balance (Apr) 39.45B 3.08B
  USD Nonfarm Payrolls (Apr) 224K 126K
  USD Unemployment Rate (Apr) 5.4% 5.5%
  CAD Employment Change (Apr) -5.0K 28.7K

Government Bond Auctions

Date Time Country

May 07 08:30 Spain Auctions 0.5% Oct 2017 Bono, 0.55%

May 07 09:10 France Auctions OATs

May 07 09:10 Sweden Holds inflation-linked bond auction

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

May 08 15:30 Italy Announces details of BTP

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

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