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EUR/JPY Fundamental Analysis – August 12, 2015 – Forecast

By:
Barry Norman
Published: Aug 11, 2015, 05:00 UTC

Analysis and Recommendations: The EUR/JPY dipped 44 points as the euro tumbled giving back most of yesterday’s gains.  The Japanese yen is flat with

EUR/JPY Fundamental Analysis – August 12, 2015 – Forecast

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Analysis and Recommendations:

The EUR/JPY dipped 44 points as the euro tumbled giving back most of yesterday’s gains.  The Japanese yen is flat with little or no data due following Friday’s Bank of Japan meeting and yesterday’s update which followed the same course as Friday’s comments.  Still, another Japanese bank official pointed out that the possibility of a September rate hike has already been largely priced in. “As a result, profit-taking overwhelmed, with investors judging that all positive news for the dollar have been out for now,” the official said.

An official at a foreign exchange margin trading service firm said that the dollar is expected to consolidate its bottom at levels below ¥124.50 for the immediate future as currency players are finding it difficult to chase the U.S. currency higher amid a lack of fresh incentives.

News that negotiations with Greece has been moving ahead smoothly and that a final bailout agreement is almost at hand helped support the euro but there has been little data and little action.

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.

Today’s economic releases:

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

BRC Retail Sales Monitor (YoY) (Jul)

1.2%

1.0%

1.8%

 

 

  AUD

 

NAB Business Confidence (Jul)

4

11

8

   

 

EURJPY(15 minutes)20150811071443

Upcoming Economic Events that you should be monitoring:

Wednesday, August 12, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

API Weekly Crude Oil Stock

 

 

-2.400M

 

 

  JPY

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  AUD

 

Wage Price Index (QoQ) (Q2)

 

0.6%

0.5%

 

 

  JPY

 

Industrial Production (MoM) (Jun)

 

0.8%

0.8%

 

 

  JPY

 

Tertiary Industry Activity Index

 

0.1%

-0.7%

 

 

  CNY

 

Fixed Asset Investment (YoY) (Jul)

 

11.5%

11.4%

 

 

  CNY

 

Industrial Production (YoY) (Jul)

 

6.6%

6.8%

 

 

  GBP

 

Claimant Count Change (Jul)

 

1.5K

7.0K

 

 

  GBP

 

Unemployment Rate (Jun)

 

5.6%

5.6%

 

 

  EUR

 

Industrial Production (MoM) (Jun)

 

-0.2%

-0.4%

 

 

  USD

 

JOLTs Job Openings (Jun)

 

5.300M

5.363M

 

 

  USD

 

Crude Oil Inventories

 

 

-4.407M

 

 

  USD

 

Federal Budget Balance (Jul)

 

-132.0B

51.8B

   

Government Bond Auctions

Date Time Country

Aug 11 11:30 UK Auctions 0.125% 2058 I/L Gilt

Aug 12 11:30 Germany Eur 4bn Aug 2025 Bund

Aug 13 11:10 Italy Auctions BTPs/CCTeus

Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz

Aug 19 11:03 Sweden Holds bond auction

Aug 20 10:30 Spain Auctions Bonos/Obligaciones

Aug 20 11:30 UK Auctions 4.25% 2036 Gilt

Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug

 

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