EUR/JPY Fundamental Analysis October 4, 2012 Forecast

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Analysis and Recommendations:

The EUR/JPY is trading this on Wednesday morning at 100.92 down a few pips, as the euro weakened on poor eco data and light news, with ongoing rumors about a Spanish bailout. The JPY also has weakened against its trading partners, as the upcoming BoJ meeting seems bound and determined to find a way to depress the JPY. Markets are expecting more stimulus and bond buying programs. With recent changes in Ministry leadership we will see the new Director taking a firmer hand.

Chinese data continues to remain lackluster and the RBA announced a 25bp drop in interest rates yesterday which is affecting the region.

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 3, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

 

Previous

 

 

Oct. 03

 

GBP

 

 

BRC Shop Price Index (YoY) 

1.00%

 

 

1.10% 

 

 

 

 

AUD

 

 

AIG Services Index 

41.9

 

 

42.4 

 

 

 

 

AUD

 

 

HIA New Home Sales (MoM) 

-5.3%

 

 

-5.6% 

 

 

 

 

CNY

 

 

Chinese Non-Manufacturing PMI 

53.70

 

 

56.30 

 

 

 

 

AUD

 

 

Trade Balance 

-2.03B

 

 

-1.53B 

   

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 04

02:30

AUD

Building Approvals (MoM) 

4.7% 

-17.3% 

 

02:30

AUD

Retail Sales (MoM) 

0.4% 

-0.8% 

 

13:30

USD

Initial Jobless Claims 

370K 

359K 

 

13:30

USD

Continuing Jobless Claims 

3271K 

3271K 

 Oct. 05

13:30

USD

Average Hourly Earnings (MoM) 

0.2% 

0.0% 

 

13:30

USD

Nonfarm Payrolls 

110K 

96K 

 

13:30

USD

Average Weekly Hours 

34.4 

34.4 

 

13:30

USD

Private Nonfarm Payrolls 

125K 

103K 

Government Bond Auction

Date Time Country   

Oct 04 08:30 Spain 

Oct 04 08:50 France 

Oct 04 15:00 US 

Oct 05 15:30 Italy 

i�M(tf�u�XC�mes New Roman”‘>Oct 05 15:30 Italy 

 

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About: FX Empire Analyst - Barry Norman

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