EUR/JPY Fundamental Analysis December 10, 2012, Forecast

Analysis and Recommendations:

The EUR/JPY is trading at 106.97 falling under the 107 price for the first time this week, as the euro tumbled against all of its trading partners after a drastic downward growth revision by the ECB surprised traders. The ECB held rates and policy yesterday as expected and there was little movement to the currency until Mr. Draghi’s statement late in the day. He was expected to issue a downward growth forecast, but the depth of the downward revision and the extension until 2014 surprised traders.

The euro also continued in recession as the EU GDP reported in at a -.01%.

Market focus today will move to the US, while the fiscal cliff takes a back seat to the nonfarm payroll report.

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 December 7, 2012 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Dec 10 10:10 Norway 

Dec 10 10:10 Slovakia 

Dec 10 15:30 UK 

Dec 10 16:30 Italy  

Dec 11 09:30 Spain 

Dec 11 10:10 Greece 

Dec 11 10:15 Austria 

Dec 11 10:30 Belgium 

Dec 11 10:30 UK 

Dec 11 18:00 US 

Dec 12 10:10 Italy  

Dec 12 10:10 Sweden 

Dec 12 10:30 Swiss 

Dec 12 16:30 US 

Dec 13 01:30 Japan 

Dec 13 09:30 Spain 

Dec 13 10:10 Italy  

Dec 13 10:30 UK 

Dec 13 16:00 US 

Dec 13 18:00 US 

Dec 14 11:00 Belgium 

Dec 14 15:30 UK