EUR/JPY Fundamental Analysis October 12, 2012 Forecast

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EUR/JPY Fundamental Analysis October 12, 2012 Forecast

EUR/JPY Fundamental Analysis October 12, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY drifted to 100.41 and is expected to fall below the 100 number as the euro continues to weaken with the ongoing debt crisis and political problems brewing in Europe. Spain seems adamant about not accepting a bailout, with its new austerity measures, the budge will still fall very short of its financial needs and continue to cause more long term harm than good. Global leaders are beginning to worry about this dragging on too long; they have done everything except deposit the funds into Spanish banks. Greece to drags on and the IMF continue to lower global growth.

Yesterday S&P lowered Spain’s debt rating to just above junk.

Whereas the JPY does not seem to be able to weaken and continue to harm exports in Japan. G7 leaders are meeting in Tokyo to review the situation.

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 11, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 11

 

JPY

 

 

Core Machinery Orders (MoM) 

-3.3%

 

-2.5% 

 

4.6% 

 

 

JPY

 

 

Bank Lending (YoY) 

1.0%

 

 

 

0.9% 

 

 

AUD

 

 

MI Inflation Expectations 

2.6%

 

 

 

2.4% 

 

 

AUD

 

 

Employment Change 

14.5K

 

3.8K 

 

-9.1K 

 

 

AUD

 

 

Unemployment Rate 

5.4%

 

5.3% 

 

5.1% 

 

 

KRW

 

 

South Korean Interest Rate Decision 

2.75%

 

2.75% 

 

3.00% 

 

 

MYR

 

 

Malaysian Industrial Production (YoY) 

-0.7%

 

-2.0% 

 

2.9% 

 

 

JPY

 

 

Household Confidence 

40.1

 

41.2 

 

40.5 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 12

00:50

JPY

Tertiary Industry Activity Index (MoM) 

0.5% 

-0.8% 

 

13:30

USD

Core PPI (MoM) 

0.2% 

0.2% 

 

13:30

USD

PPI (MoM) 

0.8% 

1.7% 

 

14:55

USD

Michigan Consumer Sentiment 

77.9 

78.3 

Government Bond Auction

Date Time Country 

Oct 12 09:30 Germany 

Oct 12 10:00 Belgium

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About:FX Empire Analyst - Barry Norman

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