EUR/JPY Fundamental Analysis October 24, 2012 Forecast

Posted October 23, 2012 6:38 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/JPY Fundamental Analysis October 24, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY took a breather in Tuesday mornings Asian trading. The pair is fairly flat at 104.24 heading towards the 105 price range. In Japan the government has pulled out all stops to push the BoJ into additional easing, which is weighing on the JPY. Yesterday the BoJ offered a downbeat view of the current economic situation.

European stock markets were firmer along with the euro currency amid Spanish elections that showed the ruling conservative party doing well. Such bolstered notions Spain will be seeking EU financial assistance in the near term. The euro has been able to maintain its momentum even against a strong USD.

There is little else in eco or event for today and limited risk. The pair is expected to remain flat until Wednesday’s data flow.

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 23, 2012 actual v. forecast

Date		Currency			Event	Actual	Previous
Oct. 23		AUD			CB Leading Index (MoM)	-0.8%	0.0%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 24	01:30	AUD	CPI (QoQ)	1.1%	0.5%
	01:30	AUD	Trimmed Mean CPI (QoQ)	0.6%	0.5%
	02:45	CNY	Chinese HSBC Manufacturing PMI		47.90
	15:00	USD	New Home Sales	385K	373K
	21:00	NZD	Interest Rate Decision	2.50%	2.50%
Oct. 25	22:45	NZD	Trade Balance	-825M	-789M
Oct. 26	00:30	JPY	Tokyo Core CPI (YoY)	-0.5%	-0.4%

Government Bond Auction

Date Time Country

Oct 24 09:10 Sweden

Oct 24 09:30 Germany

Oct 24 14:30 Sweden

Oct 24 15:30 Italy

Oct 24 16:30 US

Oct 25 00:30 Japan

Oct 25 09:10 Sweden

Oct 25 15:30 Italy

Oct 25 17:00 US

Oct 26 09:10 Italy

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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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