EUR/JPY Fundamental Analysis October 11, 2012 Forecast

Posted October 10, 2012 8:08 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/JPY Fundamental Analysis October 11, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY dipped to trade at 100.78 remained in a fairly tight range with the euro losing a bit of momentum. Global worries weigh heavily on the euro after the IMF downgraded world growth for 2012 and 2013. The World Bank also downgraded growth in the Asian region.

Machine tool orders print this morning was weak in Japan and minimized gains. This week the EU Ministers approved a new tranche for Portugal and also activated the ESM, while ECB President Draghi, said that Greece had made commendable headway in dealing with the debt and budgets but still had a long way to go. Spain continued to play games trying not to accept a “bailout”

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 October 10, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 10	KRW	South Korean Unemployment Rate	3.1%	3.2%	3.1%
	AUD	Westpac Consumer Sentiment	1.00%		1.60%
	KRW	South Korean M2 Money supply	9.20%		9.00%
	EUR	German WPI (MoM)	1.3%	0.5%	1.1%
	JPY	Machine Tool Orders (YoY)	-3.0%		-2.7%
	EUR	Finnish Industry Output (MoM)	-1.40%		2.00%
	EUR	French Industrial Production (MoM)	1.5%	-0.2%	0.6%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	01:30	AUD	Employment Change	3.8K	-8.8K
	13:30	USD	Import Price Index (MoM)	0.7%	0.7%
	13:30	USD	Trade Balance	-44.0B	-42.0B
	13:30	USD	Initial Jobless Claims	370K	367K
	13:30	USD	Continuing Jobless Claims	3275K	3281K
	19:00	USD	Federal Budget Balance	-4.0B	-191.0B

Government Bond Auction

Date Time Country

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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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

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