EUR/JPY Fundamental Analysis October 18, 2012 Forecast

Posted October 17, 2012 7:03 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/JPY Fundamental Analysis October 18, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY continues to climb to trade at 103.02, as investor’s hopes for a Spanish bailout become more likely, the euro is gaining momentum ahead of this week’s EU Summit. Traders are expecting announcements about a negotiated bailout for Spain and the use of the ESM along with a settlement with Greece. Yesterday the WSL and the Financial Times both printed similar articles quoting sources within the Spanish government. It seems the agreements have already been reached.

Reports have surfaced that two senior German lawmakers indicated that they would support a Spanish application for a ‘precautionary credit line’ from the European Stability Mechanism, the eurozone’s permanent bailout fund, sent the single currency gaining amid a risk-on session.

Investors shrugged off news that Greece and its troika of creditors — the European Union, the International Monetary Fund and the European Central Bank — are still working to agree on deficit reduction targets.

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 17, 2012 actual v. forecast

Date		Currency			Event	Actual			Previous
Oct. 17		AUD			MI Leading Index (MoM)	0.5%			0.3%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 18	01:30	AUD	NAB Quarterly Business Confidence		-2.00
	03:00	CNY	Chinese Fixed Asset Investment (YoY)	20.2%	20.2%
	03:00	CNY	Chinese GDP (YoY)	7.4%	7.6%
	03:00	CNY	Chinese Industrial Production (YoY)	9.0%	8.9%
	03:00	CNY	Chinese Retail Sales (YoY)	13.2%	13.2%

Government Bond Auction

Date Time Country

Oct 18 08:30 Spain

Oct 18 08:50 France

Oct 18 09:30 UK

Oct 18 09:50 France

Oct 18 14:30 Sweden

Oct 18 15:00 US

Oct 18 17:00 US

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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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