Analysis and Recommendations: The EUR/JPY dipped 7 points to trade at 129.95 after a rash of Japanese data and a speech from Governor Kuroda. Against the
The EUR/JPY dipped 7 points to trade at 129.95 after a rash of Japanese data and a speech from Governor Kuroda. Against the yen, the euro was down about 0.2 percent at 129.90, not far from a seven-month trough of 129.67 set on Friday.
Soft inflation readings out of the euro zone on Monday and Tuesday could strengthen expectations for ECB action at its Dec. 3 policy review, but whatever the outcome, an easing appeared to be fully factored in.
“The ECB is likely to announce more monetary stimulus at their policy meeting on Thursday, which should see EUR/USD end the week lower and generate a drag on AUD/USD,” said Richard Grace, chief currency and rates strategist at Commonwealth Bank.
In contrast, the Federal Reserve is widely tipped to hike U.S. interest rates at its mid-December policy meeting, though Fed Chair Janet Yellen could use a speech on Wednesday to steer markets either way.
The euro retreated against the dollar and the yen as traders’ expectations remained high for a European Central Bank decision for additional stimulus at its policy meeting on Thursday.
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 |
|||
NZD |
Building Consents (MoM) (Oct) |
5.1% |
3.0% |
-5.8% |
|||
JPY |
Industrial Production (MoM) (Oct) |
1.4% |
1.9% |
1.1% |
|
||
JPY |
Retail Sales (YoY) (Oct) |
1.8% |
0.8% |
-0.2% |
|
||
NZD |
ANZ Business Confidence (Nov) |
14.6% |
15.0% |
10.5% |
|
||
AUD |
Company Gross Operating Profits |
1.3% |
1.0% |
-0.5% |
|||
AUD |
Private Sector Credit (MoM) (Oct) |
0.7% |
0.6% |
0.8% |
|
||
JPY |
BoJ Governor Kuroda Speaks |
|
|
|
Upcoming Economic Events that you should be monitoring:
Tuesday, December 1, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
AUD |
AIG Manufacturing Index (Nov) |
|
|
50.2 |
|
||
JPY |
Capital Spending (YoY) (Q3) |
|
|
5.6% |
|
||
AUD |
Building Approvals (MoM) (Oct) |
|
-2.3% |
2.2% |
|
||
AUD |
Current Account (Q3) |
|
-16.5B |
-19.0B |
|
||
CNY |
Manufacturing PMI (Nov) |
|
49.8 |
49.8 |
|
||
CNY |
Non-Manufacturing PMI (Nov) |
|
|
53.1 |
|
||
CNY |
Caixin Manufacturing PMI (Nov) |
|
48.3 |
48.3 |
|
||
AUD |
Interest Rate Decision (Dec) |
|
2.00% |
2.00% |
|
||
EUR |
German Manufacturing PMI (Nov) |
|
52.6 |
52.6 |
|
||
EUR |
German Unemployment Change |
|
-5K |
-5K |
|
||
EUR |
German Unemployment Rate (Nov) |
|
6.4% |
6.4% |
|
||
EUR |
Manufacturing PMI (Nov) |
|
52.8 |
52.8 |
|
||
GBP |
Manufacturing PMI (Nov) |
|
54.0 |
55.5 |
|
||
EUR |
Unemployment Rate (Oct) |
|
10.8% |
10.8% |
|
||
USD |
Manufacturing PMI (Nov) |
|
|
52.6 |
|
||
USD |
ISM Manufacturing Employment |
|
48.5 |
47.6 |
|
||
USD |
ISM Manufacturing PMI (Nov) |
|
50.4 |
50.1 |
|
Government Bond Auctions
Date Time Country
Dec 01 11:30 UK 1.5% 2021 Gilt auction
Dec 02 16:30 Sweden Announces details of Bond on 11 Dec
Dec 03 10:30 Spain Auctions
Dec 03 10:50 France Auctions OATs
Dec 03 11:03 Sweden Holds I/L bond auction
Dec 04 11:03 Sweden Holds I/L bond auction