Article by Investazor.com
Last week was pretty intense and seemed like a roller coaster of emotions for the markets. The week started with the escalation of the Crimean conflict and USDJPY had a slide just to soar for the reminder of the week after Vladimir Putin declared that there is no immediate need to invade Ukraine. As a result, safe haven assets took a blow and the US dollar gained, managing to break the 103 level and to send the USDJPY quotation to 103.20.
Besides the geopolitical conflict form Ukraine, the macroeconomic data favored the US economy as last week was poor in economic indicators for the Japanese economy, so the headline was the NFP indicator, which surprised in a good way the investors for the first time in the last three months. The improvement for the US labor market was signaled by the unemployment claims with a day before the NFP when the jobless claims were reported at a three months low.
Economic Calendar
Current Account (7:50 GMT)-Sunday. This indicator measures the difference in value between imported and exported goods, services, income flows and unilateral transfers during the reported month. It is a medium impact indicator, but you should pay attention at it because last month was registered the widest deficit on record for the Nippon economy and for this month it is forecast to widen even more.
Final GDP q/q (7:50 GMT)-Sunday. Basically, it measures the change in the inflation-adjusted value of all goods and services produced by the economy. It is very important as it is released quarterly and it is considered the broadest measure of economic health. The last two releases were below expectations, so it will be interesting to watch which it will be the outcome this time.
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