Analysis and Recommendations: The EUR/JPY rose in the Asian session as the JPY continued to weaken on stimulus and financial plans of new Prime Minister
The EUR/JPY rose in the Asian session as the JPY continued to weaken on stimulus and financial plans of new Prime Minister Abe. The euro also is weak this morning as traders returned to risk aversion moving back to the USD as talks between President Obama and House leaders have completely broken down as Speak Boehner dismissed congress for the holiday week, which means that there will be little chance to vote on a new agreement before the new year.
Prime Minister Abe drew a line in the sand saying that if the Bank of Japan will not accept the 2% inflation rate at its next meeting that he would seek to change laws to retain control of the Bank of Japan, taking away the bank’s independence. Around the world central banks function independently of political pressures and interference. This new mode for the Japanese has traders worried.
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 24, 2012 actual v. forecast
Date |
Time |
|
Currency |
|
Importance |
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 24 |
08:00 |
|
TWD |
|
|
Taiwanese Industrial Production (YoY) |
|
|
5.40% |
|
4.56% |
|
||
|
23:50 |
|
JPY |
|
|
CSPI (YoY) |
|
|
-0.6% |
|
-0.7% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Global markets are closed for the Christmas Holiday; many will reopen on Wednesday while some countries are out for additional days. There is no eco data on the calendar for December 25th. We will not print any fundamental analysis on Christmas day and will return on December 26th. I would like to wish all of my readers an enjoyable holiday season.
Government Bond Auction
Date Time Country
Dec 26 01:30 Japan
Dec 27 10:10 Italy
Dec 28 10:10 Italy