The Fundamental FOREX Blog

On Thursday, 10-29-09 at 7:30 PM ET, the Japan Statistics Bureau will release the monthly JPY Tokyo Core Consumer Price Index and JPY National Core Consumer Price Index YoY reports

This is my first post for these two reports, there are 7 other economic reports being released as well – at this point on time I do not have any idea how those 7 reports will affect the currency market.

The additional reports are:

JPY Jobless Rate
JPY Job-To-Applicant Ratio
JPY Household Spending (YoY)
JPY Tokyo Consumer Price Index (YoY)
JPY Tokyo Consumer Price Index Ex Food, Energy (YoY)
JPY National Consumer Price Index (YoY)
JPY National Consumer Price Index Ex Food, Energy (YoY)

The last time these two reports were released there were only 5 other reports released. They were released on Monday, 09-28-09 at 7:30 PM ET.

I had not set to trade this report, but wanted to watch and see what was going on.

Here is what happened then:

JPY Tokyo Core Consumer Price Index YoY – Stats

Previous = -1.8%

Forecast = -2.2%

Actual = -2.1%
Good – the “actual” came out lower by 0.1%, but then, Bad – the “actual” came out higher then the “previous” by 0.2%.

JPY National Core Consumer Price Index YoY – Stats

Previous = -2.0%

Forecast = -2.3%

Actual = -2.4%
Bad – the “actual” came out higher then the “forecast“ by 0.1% and higher then the “previous” by 0.4%.

Here are the charts:

a one minute AUD/JPY chart

This currency pair AUD/JPY moved up about 35 PIPS in 32 minutes – the direction it should have moved.

a one minute CAD/JPY chart

This currency pair CAD/JPY moved up about 33 PIPS in 32 minutes – the direction it should have moved.

a one minute EUR/JPY chart

This currency pair EUR/JPY moved up about 52 PIPS in 32 minutes – the direction it should have moved.

a one minute GBP/JPY chart

This currency pair GBP/JPY moved up about 65 PIPS in 32 minutes – the direction it should have moved.

a one minute USD/JPY chart

This currency pair USD/JPY moved up about 38 PIPS in 32 minutes – the direction it should have moved.

Looks like the currency pair GBP/JPY had the best move.

Here is how the reports for this month are set up:

JPY Tokyo Core Consumer Price Index YoY – Stats

Previous = -2.1%

Forecast = -2.0%

JPY National Core Consumer Price Index YoY – Stats

Previous = -2.0%

Forecast = -2.3%

It appears that the two reports are at odds .

I am not sure which report has the greatest impact on the market, so I will not trade unless both are headed in the same direction.

I will set up to trade the GBP/JPY currency pair – if both reports are not in conflict and there is a difference between the “actual” and the “forecast”, I may enter a trade if the market is moving.

Soon after the reports have been released I will post a “follow up” report of the results.

The next scheduled release of these two reports on Monday, 11-23-09 at 7:30 PM ET, at this point in time re will additional reports released at the same time.

I will probably post a “preview“ a day or two prior.

Stay tuned!