EUR/JPY Fundamental Analysis October 9, 2012 Forecast

Posted October 08, 2012 5:37 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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EUR/JPY Fundamental Analysis October 9, 2012 Forecast

Analysis and Recommendations:

The EUR/JPY climbed to trade at 102.00 in the Asian session this morning. Comments by German Finance Minister Wolfgang Schauble over the weekend that Chancellor Angela Merkel’s trip to Greece this week did not mean the debt-stricken country would receive the next tranche of aid from its bailout, helped drag the euro lower. A focal point for the euro has been when Spain might make a request for external aid. Traders and analysts say the euro could get a boost if Spain makes such a request as that would open the way for the European Central Bank to buy Spanish debt to help bring down Madrid’s borrowing costs.

With little support for the JPY this morning the pair is at the whim of the international markets and news. Traders seem increasingly interested in putting on bullish bets on the euro versus the yen.

For the long term, markets see the euro climbing as the ECB deals with the debt crisis and the launch of the OMT and the ESM. While the JPY is too strong and the Japanese economy is declining rapidly.

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 8, 2012 actual v. forecast

Date	Currency	Event	Actual	Previous
Oct. 08	AUD	RBA Governor Stevens Speaks
	AUD	ANZ Job Advertisements (MoM)	-2.80%	-2.40%
	CNY	Chinese HSBC Services PMI	54.30	52.00

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 09	01:30	AUD	NAB Business Confidence		-2
Oct. 11	01:30	AUD	Employment Change	3.8K	-8.8K

Government Bond Auction

Date Time Country

Oct 09 08:30 Holland

Oct 09 09:30 UK

Oct 09 14:30 UK

Oct 09 17:00 US

Oct 10 09:10 Italy

Oct 10 09:10 Sweden

Oct 10 09:30 Germany

Oct 10 09:30 Swiss

Oct 10 14:30 Sweden

Oct 10 17:00 US

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 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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