EUR/JPY Fundamental Analysis October 25, 2012 Forecast

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EUR/JPY Fundamental Analysis October 25, 2012 Forecast

EUR/JPY Fundamental Analysis October 25, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY is fairly flat in early morning trading, exchanging at 103.71. With little news from the eurozone and light eco data, the pair is pretty stable at this writing. Spain is the main focus of the euro as Moody’s downgrade continues to weigh on the euro as well as Prime Minister Rajoy continued delay in requesting bailout assistance from the EU. Yesterday, reports that Spain would not meet its 2012 budget or GDP, upset markets but was not surprising with growing unemployment, austerity measures in place and the ongoing EU debt crisis. Borrowing costs continue to weigh heavily on Spain.

Whereas Japan is facing additional monetary easing by the BoJ at its October 30th meeting, this is limiting movement for the yen. Earlier this week data showed an ever widening trade balance for Japan.

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 24, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

Oct. 24

 

AUD

 

 

CPI (QoQ) 

1.4%

 

1.1% 

 

0.5% 

 

 

 

AUD

 

 

Trimmed Mean CPI (QoQ) 

0.7%

 

0.6% 

 

0.5% 

 

 

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

49.10

 

 

 

47.90 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

 Oct. 25

13:30

USD

Core Durable Goods Orders (MoM) 

0.8% 

-1.6% 

 

13:30

USD

Durable Goods Orders (MoM) 

7.1% 

-13.2% 

 

13:30

USD

Initial Jobless Claims 

370K 

388K 

 

13:30

USD

Continuing Jobless Claims 

3255K 

3252K 

 

15:00

USD

Pending Home Sales (MoM) 

2.1% 

-2.6% 

 

22:45

NZD

Trade Balance 

-825M 

-789M 

Government Bond Auction

Date Time Country 

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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