EUR/JPY Fundamental Analysis October 25, 2012 Forecast

Posted October 24, 2012 6:29 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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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