EUR/JPY Fundamental Analysis October 12, 2012 Forecast

Posted October 11, 2012 7:12 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

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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