EUR/JPY Fundamental Analysis August 22, 2012, Forecast

Posted August 21, 2012 6:09 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendations:

The EUR/JPY declined to trade at 97.99 on Tuesday morning. The EUR/JPY cross is in a struggle as the Euro slightly bounces from recent downside in the FX market while the Japanese Yen strengthens since the US session on a wave of “risk off” sentiment.

The ECB fully rejected Der Spiegel’s report about the plan to cap yields in the Spanish and Italian bond markets, and German officials also criticized the idea if to be true. As expected, the ECB didn’t buy any bonds last week. The euro has been trading stronger against the USD. The EUR/JPY is currently moving in the same relative terms as the EUR/USD since the greenback is trading sideways against the Japanese Yen. The Euro is on the move, downwardly, as rumors about the ECB’s plan to cap yields in the Spanish and Italian bond markets, meaning unlimited buying, are being rejected by the central bank itself, after previous German denials.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks

Economic Data August 21, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 21

AUD

Monetary Policy Meeting Minutes

NZD

Credit Card Spending (YoY)

0.1%

3.9%

NZD

Inflation Expectations (QoQ)

2.3%

2.4%

JPY

All Industries Activity Index (MoM)

0.2%

0.3%

-0.2%

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Aug. 22	00:50	JPY	Trade Balance	-0.46T	-0.30T
	15:00	USD	Existing Home Sales	4.52M	4.37M
	19:00	USD	FOMC Meeting Minutes

Want to read more articles like this one?

Enter your e-mail address and read FX Empire content directly from your inbox.

We value your privacy. Your e-mail address will not be shared.

About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

View all of FX Empire Analyst - Barry Norman's Articles