Analysis and Recommendations: The EUR/JPY continues to climb breaking historic level at 114.42. The yen extended its drop against major currencies after
Analysis and Recommendations:
The EUR/JPY continues to climb breaking historic level at 114.42. The yen extended its drop against major currencies after data released earlier on Friday showed Japan’s industrial output fell by a greater-than-expected 1.7% in November, while a measure of consumer prices showed the country remained in the grip of deflation.
The euro continues to gain, after a bit of a falter on political news from the US, but this morning the euro has recovered as the JPY continues to drip. Market support moves in Japan but remain worried about deflation and over easing.
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Markets will have a shortened day on Monday December 31st and most are closed on Tuesday January 1, 2013. Our analysis will be published as markets close on Monday and there will be no analysis on Tuesday. I want to wish all of my readers a happy and healthy new year. I hope you continue reading our analysis next year.
Economic Data December 28, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec 28 |
|
KRW |
|
|
South Korean Industrial Production |
2.9% |
|
0.8% |
|
-0.8% |
|
|
|
|
KRW |
|
|
South Korean Industrial Production |
2.3% |
|
0.7% |
|
0.6% |
|
|
|
|
JPY |
|
|
Unemployment Rate |
4.1% |
|
4.2% |
|
4.2% |
|
|
|
|
JPY |
|
|
Tokyo Core CPI (YoY) |
-0.6% |
|
-0.5% |
|
-0.5% |
|
|
|
|
JPY |
|
|
Industrial Production (MoM) |
-1.7% |
|
-0.5% |
|
1.6% |
|
|
|
|
JPY |
|
|
Retail Sales (YoY) |
1.3% |
|
1.1% |
|
-1.2% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
Country |
Event |
Forecast |
Previous |
Jan. 01 |
01:00 |
CNY |
|
50.60 |