EUR/JPY Fundamental Analysis September 11, 2012, Forecast

Posted September 10, 2012 4:13 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/JPY is trading above 100.00 at 100.04 at this writing, as the JPY has weakened on negative eco data released this morning. GDP Q/Q fell below forecast along with the Current Account. (See chart below).

The euro has been strong since the ECB announced its new Outright Monetary Transaction bond buying program, gaining on the USD to trade over 1.28 on Friday.

Over the weekend, China begin its monthly data dump printing all of its eco data at one time, the overall view of the releases shows that the economy has not picked up and that manufacturing and production remain weak, supporting the notion of stimulus from the PBoC.

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Economic Data September 10, 2012 actual v. forecast

Date	Time	Currency	Event	Actual	Forecast	Previous
Sep. 10	00:50	JPY	Adjusted Current Account	0.34T	0.39T	0.77T
	00:50	JPY	GDP (QoQ)	0.2%	0.3%	0.3%
	00:50	JPY	GDP Price Index (YoY)	-0.9%	-1.1%	-1.1%
	00:50	JPY	Bank Lending (YoY)	0.9%		0.7%
	02:00	CNY	Chinese Trade Balance	26.66B	19.80B	25.10B
	02:00	CNY	Chinese Exports (YoY)	2.70%	3.00%	1.00%
	02:30	AUD	Home Loans (MoM)	-1.0%	0.1%	1.0%

Chinese Economic Data released on September 9, 2012 actual v. forecast ( this is important )

Sep. 09