EUR/JPY Fundamental Analysis December 17, 2012, Forecast

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Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: The EUR/JPY continues to climb reaching records highs. The pair is trading at 109.82 adding 43pips and is on course to break

EUR/JPY Fundamental Analysis December 17, 2012, Forecast

Analysis and Recommendations:

The EUR/JPY continues to climb reaching records highs. The pair is trading at 109.82 adding 43pips and is on course to break above the 110 price level. If markets see positive PMI data in the eurozone today, the pair should climb above the 110 price. The JPY remains weak as the Bank of Japan keeps adding stimulus in hopes of helping the economy recover but it is this weekend’s elections that are weighing on traders. With the front runner, Shinzo Abe the likely next Prime Minister, his economic and banking platform are uneven and worrisome to traders.

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 14, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 14

CNY

Chinese HSBC Manufacturing PMI

50.90

50.50

JPY

Industrial Production (MoM)

1.6%

1.8%

SGD

Singaporean Retail Sales (YoY)

-1.0%

-1.5%

2.6%

INR

Indian WPI (YoY)

7.24%

7.57%

7.45%

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 17	13:30	USD	NY Empire State Manufacturing Index	-0.5	-5.2
	14:00	USD	TIC Net Long-Term Transactions		3.3B