EUR/JPY Fundamental Analysis September 20, 2012, Forecast

Posted September 19, 2012 5:34 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

The EUR/JPY continues to rock climbing to 103.45. The JPY weakened today as the Bank of Japan implemented a new round of monetary stimulus to help the economy recover.

The Japanese currency weakened against most of its 16 major counterparts after the BOJ said it will add 10 trillion yen ($127 billion) to its 45 trillion-yen fund that buys assets including government debt. Demand for the euro was limited ahead of a report tomorrow that economists say will show services and manufacturing industries shrank in the currency bloc for an eighth month.

A euro-zone composite index for services and manufacturing industries was at 46.6 in September, little changed from 46.3 the prior month, according to the median estimate of economists surveyed by Bloomberg. London-based Markit Economics will release the figure that’s based on a poll of purchasing managers in the industries tomorrow. A reading below 50 indicates contraction.

The euro is likely to weaken in the long term

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 September 19, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sep. 19

JPY

Interest Rate Decision

0.10

0.10%

JPY

BoJ Press Conference

NZD

Current Account

-1.80B

-1.64b

-1.07b

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

Date	Time	Currency	Event	Forecast	Previous
Sep. 20	00:50	JPY	Trade Balance	-0.37T	-0.33T
	03:30	CNY	Chinese HSBC Manufacturing PMI		47.60
	05:30	JPY	BoJ Governor Shirakawa Speaks

Government Bond Auction

Date Time Country

Sep 20 08:30 Spain

Sep 20 08:50 France

Sep 20 09:30 UK

Sep 20 09:50 France

Sep 20 15:00 US

Sep 20 17:00 US

Sep 21 15:30 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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