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EUR/JPY Fundamental Analysis July 12, 2013 Forecast
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Analysis and Recommendations: The EUR/JPY gained 14 pips as both currencies soared today against the US dollar. The pair is trading at 129.45 after the
Analysis and Recommendations:
The EUR/JPY gained 14 pips as both currencies soared today against the US dollar. The pair is trading at 129.45 after the BoJ held rates this morning and yesterday’s release of FOMC minutes and Mr. Bernanke’s speech. The dollar dropped to session lows against the euro and yen in late New York trade on Wednesday after Federal Reserve Chairman Ben Bernanke said highly accommodative monetary policy is needed for the foreseeable future.
The Bank of Japan held rates and policy, but said that they see positive changes in the economy and that things were moving in the right direction. Traders are waiting for the press conference later today. Europe remains upset after Greek unemployment reports at record highs this morning, and upset in Luxembourg politics with Prime Minister Juncker resigning, Portugal politics remain disturbing, all of this is weighing on the euro which is likely to tumble after markets correct for the over reaction to the Fed’s yesterday.
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 July 11, 2013 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
|
NZD |
|
|
Business NZ PMI |
54.7 |
|
|
|
59.0 |
||
|
|
|
NZD |
|
|
FPI (MoM) |
2.1% |
|
|
|
0.3% |
|
|
|
|
|
JPY |
|
|
Core Machinery Orders (MoM) |
10.5% |
|
1.3% |
|
-8.8% |
|
|
|
|
|
JPY |
|
|
Foreign Bonds Buying |
973.1B |
|
|
|
-965.0B |
||
|
|
|
JPY |
|
|
Core Machinery Orders (YoY) |
16.5% |
|
2.5% |
|
-1.1% |
|
|
|
|
|
AUD |
|
|
MI Inflation Expectations |
2.6% |
|
|
|
2.3% |
|
|
|
|
|
KRW |
|
|
South Korean Interest Rate Decision |
2.50% |
|
2.50% |
|
2.50% |
|
|
|
|
|
AUD |
|
|
Employment Change |
10.3K |
|
-2.5K |
|
-0.7K |
||
|
|
|
AUD |
|
|
Unemployment Rate |
5.7% |
|
5.6% |
|
5.6% |
||
|
|
|
JPY |
|
|
Interest Rate Decision |
0.10% |
|
0.10% |
|
0.10% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul. 12 |
02:30 |
AUD |
2.5% |
0.8% |
|
|
|
05:30 |
JPY |
2.0% |
||
|
|
13:30 |
USD |
0.1% |
0.1% |
|
|
|
13:30 |
USD |
0.5% |
0.5% |
|
|
|
13:30 |
USD |
2.0% |
1.7% |
|
|
|
13:30 |
USD |
1.6% |
1.7% |
|
|
|
14:55 |
USD |
85.0 |
84.1 |
Government Bond Auction
Date Time Country
Jul 12 10:30 Belgium
Jul 12 10:30 Belgium
Jul 16 08:30 Spain
Jul 16 09:30 Belgium
Jul 17 09:30 Germany
Jul 18 08:30 Spain
Jul 18 08:50 France
Jul 18 09:50 France
Jul 18 15:00 US
Jul 18 17:00 US
About the Author
Barry Normanauthor
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