23 Jul 2015
USD/JPY: watch FOMC next week - BTMU
FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi explained that next week’s July FOMC statement may underpin the policy stance for a rate hike in September providing support for USD/JPY.
Key Quotes:
"Yet, though June non-farm payroll report was near market consensus a 223K, the reports for April and May were revised down. June unemployment rate 5.3% was chiefly upgraded by labor participation ratio drop."
"Moreover, the US stock market did not digest the next policy move. A more hawkish policy statement may weigh on the US equity market and encourage USD/JPY drop. The upper bound may be close to 125.00 for USD/JPY. Though the upcoming GDP data for Q2 2015 may reach 2%, USD/JPY may stay calm above 122-level."
Key Quotes:
"Yet, though June non-farm payroll report was near market consensus a 223K, the reports for April and May were revised down. June unemployment rate 5.3% was chiefly upgraded by labor participation ratio drop."
"Moreover, the US stock market did not digest the next policy move. A more hawkish policy statement may weigh on the US equity market and encourage USD/JPY drop. The upper bound may be close to 125.00 for USD/JPY. Though the upcoming GDP data for Q2 2015 may reach 2%, USD/JPY may stay calm above 122-level."