FXEmpire | March 20 2012 2:46 EDT
Analysis and Recommendation: (close of Asian session)
USD/JPYis up at 83.43, it is the same story throughout the Pacific region, and investors are pushing up the USD in preparation for a key speech today by Fed Chairman Bernanke.
There is little in the way of economic news to affect the JPY or the USD. The moves of the pair will come on the interpretations of Mr. Bernankes address.
The U.S. will also release data on building permits, an key gauge of future construction, as well as data on housing starts, a leading indicator of economic recovery.
Economic Reports for March 19 and 20, 2012 actual vs. forecast
Rightmove House Price Index (MoM)
RBA Governor Stevens Speaks
Italian Industrial New Orders (MoM)
Chilean GDP (YoY)
Wholesale Sales (MoM)
NAHB Housing Market Index
3-Month Bill Auction
Colombian Industrial Production (YoY)
CB Leading Index (MoM)
Economic Events March 21, 2012 that effect the AUD, NZD and JPY
15:00 USD Existing Home Sales
Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.
22:45 NZD GDP (QoQ)
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.
Government Bond Auctions (this week)
Mar 22 10:10 Sweden I/L bond auction
Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt
Mar 22 15:00 US
Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar
28 & 7Y Notes on Mar 29
Originally posted here