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EUR/JPY Fundamental Analysis December 4, 2012, Forecast

By:
Barry Norman
Updated: Aug 20, 2015, 23:00 UTC

Analysis and Recommendations: The EUR/JPY is trading at 107.50 gaining again this morning adding 38 pips as the euro climbed on positive sentiment. With

EUR/JPY Fundamental Analysis December 4, 2012, Forecast
EUR/JPY Fundamental Analysis December 4, 2012, Forecast
EUR/JPY Fundamental Analysis December 4, 2012, Forecast

Analysis and Recommendations:

The EUR/JPY is trading at 107.50 gaining again this morning adding 38 pips as the euro climbed on positive sentiment. With elections getting closer in Japan, contender Shinto Abe remains the favorite. Markets continue to react what is perceived as Abe’s push to lower the yen, by almost unlimited monetary easing, while setting an inflation target of 3% and forcing the BoJ to continue easing until the inflation target is met. Abe would consider pushing key lending rates to negative territory.

The euro is strong in early morning trading, with positive Chinese data helping to buoy the euro, along with a weekend of little news traders are in feeling comfortable and less stressed this morning.  The euro sentiment was boosted after Germany’s parliament on Friday overwhelmingly approved billions of euros in international aid for Greece, handing a much-needed financial boost to Athens as it battles against bankruptcy.  European finance ministers meet in Brussels later Monday for two-day talks focused on European-Union issues including cross-border banking supervision. 

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 3, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 03

 

KRW

 

 

South Korean Trade Balance 

4.47B

 

3.65B

 

3.70B

 

 

 

 

KRW

 

 

South Korean HSBC Manufacturing PMI 

48.16

     

47.37

 

 

 

 

AUD

 

 

Company Gross Operating Profits (QoQ) 

-2.9%

 

-2.5%

 

-0.3%

   

 

 

AUD

 

 

Retail Sales (MoM) 

0.0%

 

0.4%

 

0.5%

 

 

 

 

AUD

 

 

ANZ Job Advertisements (MoM) 

-2.90%

     

-4.60%

 

 

 

 

CNY

 

 

Chinese Non-Manufacturing PMI 

55.60

     

55.50

 

 

 

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

50.50

 

50.40

 

50.40

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Dec. 04

00:30

AUD

Building Approvals (MoM) 

-2.0%

7.8%

 

00:30

AUD

Current Account 

-14.8B

-11.8B

 

03:30

AUD

Interest Rate Decision 

3.00%

3.25%

Dec. 05

00:30

AUD

GDP (QoQ) 

0.6%

0.6%

 

13:15

USD

ADP Nonfarm Employment Change 

125K

158K

 

13:30

USD

Nonfarm Productivity (QoQ) 

2.7%

1.9%

 

13:30

USD

Unit Labor Costs (QoQ) 

-0.9%

-0.1%

 

15:00

USD

ISM Non-Manufacturing Index 

53.5

54.2

 

20:00

NZD

Interest Rate Decision 

2.50%

2.50%

Dec. 07

00:30

AUD

Trade Balance 

-2.05B

-1.46B

Government Bond Auction

Date Time Country 

Dec 04 01:30 Japan 

Dec 04 10:30 Belgium 

Dec 04 15:30 UK 

Dec 05 09:30 Spain 

Dec 05 10:30 Germany 

Dec 05 11:00 Norway 

Dec 05 15:30 Sweden 

Dec 06 01:30 Japan 

Dec 06 09:50 France 

Dec 06 16:00 US 

Dec 07 16:30 Italy

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