EUR/JPY Fundamental Analysis December 18, 2012, Forecast

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Updated: Aug 21, 2015, 01:00 UTC

Analysis and Recommendations: The EUR/JPY climbed this morning at the JPY lost against all of its crosses with the election of the Liberal Democratic

EUR/JPY Fundamental Analysis December 18, 2012, Forecast

Analysis and Recommendations:

The EUR/JPY climbed this morning at the JPY lost against all of its crosses with the election of the Liberal Democratic Party, by an overwhelming majority giving Shinzo Abe complete power over both houses. The pair is above the 110 price hitting 110.65. Abe’s party called for additional monetary steps by the independent Bank of Japan. This was unusual in a general election. The LDP’s Abe even wanted to strip the BOJ of its independence to force it to buy unlimited amounts of construction bonds to finance public works.

The euro rebounded a bit this morning but was trading mostly flat, as sentiment remains positive after a successful week with a Banking Supervisor being approved and Greece’s bailout funding approved for distribution.

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Economic Data December 17, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Dec. 16

NZD

Westpac Consumer

111.1

102.5

Dec. 17

GBP

Rightmove House

-3.3%

-2.6%

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

Date	Time	Currency	Event	Forecast	Previous
Dec. 18	13:30	USD	Current Account	-103.5B	-117.4B
	21:45	NZD	Current Account	-4.40B	-1.80B
Dec. 19	13:30	USD	Building Permits	0.875M	0.868M
	13:30	USD	Housing Starts	0.870M	0.894M
	21:45	NZD	GDP (QoQ)	0.4%	0.6%