EUR/JPY Fundamental Analysis – August 13, 2015 – Forecast

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Published: Aug 12, 2015, 04:07 UTC

Analysis and Recommendations: The EUR/JPY climbed 30 points to 138.46 after the release of Bank of Japan monetary meeting minutes as traders wait for the

EUR/JPY Fundamental Analysis – August 13, 2015 – Forecast

Analysis and Recommendations:

The EUR/JPY climbed 30 points to 138.46 after the release of Bank of Japan monetary meeting minutes as traders wait for the release of industrial production and Tertiary Activity Index. The euro climbed in the morning session as news from Greece was positive. Greece is expected to ink the final signatures on a vital €86-billion bailout deal with its international creditors in the coming days. However, Greece’s biggest creditor, Germany, still has some reservations.

The Bank of Japan released the minutes from its monetary policy meeting on July 14 and 15, highlighting a modest day in Asia-Pacific activity. At the meeting, the policy board decided to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion. Also, the bank lowered its growth outlook for this year to 1.7 percent from 2 percent.

Japan also will see final June numbers for tertiary industry and industrial production, plus July figures for domestic corporate goods prices.

The tertiary industry index is expected to add 0.2 percent on month after slipping 0.7 percent in May. Goods prices are tipped to fall 0.1 percent on month and 2.9 percent on year after losing 0.2 percent on month and 2.4 percent on year in June.

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
USD	API Weekly Crude Oil Stock	-0.847M	-1.800M	-2.400M
JPY	Monetary Policy Meeting Minutes
AUD	Westpac Consumer Sentiment (Aug)	7.8%		-3.2%
AUD	Wage Price Index (QoQ) (Q2)	0.6%	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%

Upcoming Economic Events that you should be monitoring:

Friday, August 14, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Core Retail Sales (QoQ)		0.7%	2.9%
EUR	German GDP (QoQ) (Q2)		0.5%	0.3%
EUR	Core CPI (YoY) (Jul)		1.0%	1.0%
EUR	CPI (MoM) (Jul)		-0.6%	0.0%
EUR	GDP (QoQ) (Q2)		0.4%	0.4%
USD	PPI (MoM) (Jul)		0.1%	0.4%
CAD	Manufacturing Sales (MoM) (Jun)		2.1%	0.1%
USD	Industrial Production (MoM) (Jul)		0.3%	0.3%
USD	Michigan Consumer Sentiment (Aug)		93.5	93.1