Economic Calendar (5/1/2009)
Friday, May 1, 2009
Japan’s Yosano on the Wires
The Japanese Finance Minister Yosano on the wires has the following comments in regards to Japan’s economy:
- The economy will not recover easily.
- Cannot cover the fall in external demand with just domestic demand.
- Exports may not recover in the short-term.
- The rise in industrial output is good news, but downside risks remain.
USD/JPY at Key Technicals
The USD/JPY pair seems to brushing off bad news the last few sessions and continuing its move north, tonight being a good example with the pair appreciating following a worse than expected employment report and inflation data . The pair again broke the 200 day moving average and 50% retracement and should be looking to test the 61.8% level again as equities continue to maintain a bullish sentiment.
AUD/JPY Breaks Through 200 Day
The AUD/JPY pair we have been discussing has managed to hold the 23.6% retracement (October ’07 high > October ’08 low) on the Swine Flu panic and recovered nicely in the last 48 hours, breaking through the 200 day moving average that has impeded its appreciation and that it had not broken since the summer. As we said before the break of the 200 day should create support at that level for a continuation north.
Japan’s Employment Report & CPI Data
To end the trading week in Asia, Japan released a number of economic indicators, most importantly the employment scenario and the rate of inflation. The numbers were released as follows:
Jobless Rate (Mar) - Survey:4.6% Actual: 4.8% Prior:4.4%
Job to Applicant Ratio – Survey:0.55 Actual:.52 Prior:0.59
Household Spending – Survey:-2.5% Actual:-0.4% Prior:-3.5%
Tokyo CPI (Apr) – Survey:0.1% Actual:-0.2% Prior:0.2%
Tokyo CPI (ex fresh food) – Survey:0.2% Actual:0.0% Prior:0.4%
Tokyo CPI (ex food/energy) – Survey:-0.5% Actual:-0.6% Prior:-0.4%
National CPI (YoY – Mar) – Survey:-0.3% Actual:-0.3% Prior:-0.1%
National CPI (ex fresh food) – Survey:-0.2% Actual:-0.1% Prior:0.0%
National CPI (ex food/energy) -Survey:-0.2% Actual:-0.3% Prior:-0.1%
The worse than expected unemployment rate and inflation data was received well as the USD/JPY remained right off session highs.
Australian Performance of Manufacturing Index
The AIG Performance of Manufacturing for April came in at 30.1, worse than the prior month reading of 33.4. The market received this information in tandem with a large amount of Japanese data, but there has been no reaction
Forex Market update for April 30 2009 afternoon
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FXDD Today and Tomorrow: A recap of today and preview of tomorrow May 1st
FXDD Today and Tomorrow is now available for download. The concise one day report, gives a snap shot of the market near the close of trading. It also gives a picture of the trend of the major economic releases due out over the next 24 hours. To access the report click on the following link
FXDD Today and Tommorrow (59.4 KiB, 950 hits)
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Greg Michalowski
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