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EUR/JPY Fundamental Analysis – November 11, 2015 – Forecast
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Analysis and Recommendations: The EUR/JPY dipped 8 points as the euro weakened after comments from Mario Draghi late in the session Monday. Japanese data
Analysis and Recommendations:
The EUR/JPY dipped 8 points as the euro weakened after comments from Mario Draghi late in the session Monday. Japanese data was mixed but overall on the lackluster side. Current Account narrowed more than expected. Chinese inflation missed expectations weighing on the morning session. Japan posted a current account surplus for the 15th straight month in September as the trade balance swung to a surplus, Ministry of Finance data showed on Tuesday.
The current account surplus stood at 1.47 trillion yen ($11.95 billion), up from a 978.0 billion yen surplus in September last year. The median forecast was for 2.2 trillion yen.
The euro erased an advances amid speculation the European Central Bank is moving closer toward cutting its deposit rate when it meets next month. The 19-nation currency traded near its weakest level since April after Reuters reported that a consensus is forming around cutting the deposit rate in December, citing four unidentified members of the ECB Governing Council.
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.
Today’s economic releases:
|
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
JPY |
Adjusted Current Account |
0.78T |
1.50T |
1.59T |
|
||
|
JPY |
Current Account n.s.a. (Sep) |
1.468T |
2.235T |
1.653T |
|
||
|
GBP |
BRC Retail Sales Monitor (YoY) (Oct) |
-0.2% |
0.7% |
2.6% |
|
||
|
AUD |
Home Loans (MoM) (Sep) |
2.0% |
0.1% |
1.5% |
|||
|
AUD |
NAB Business Confidence (Oct) |
2 |
3 |
5 |
|
||
|
CNY |
CPI (MoM) (Oct) |
-0.3% |
-0.2% |
0.1% |
|
||
|
CNY |
CPI (YoY) (Oct) |
1.3% |
1.5% |
1.6% |
|
||
|
CNY |
PPI (YoY) (Oct) |
-5.9% |
-5.8% |
-5.9% |
Upcoming Economic Events that you should be monitoring:
Wednesday, November 11, 2015
|
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
RBNZ Gov Wheeler Speaks |
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|
|
|
||
|
USD |
API Weekly Crude Oil Stock |
|
|
2.800M |
|
||
|
AUD |
Westpac Consumer Sentiment |
|
|
4.2% |
|
||
|
CNY |
Fixed Asset Investment (YoY) (Oct) |
|
10.2% |
10.3% |
|
||
|
CNY |
Industrial Production (YoY) (Oct) |
|
5.8% |
5.7% |
|
||
|
GBP |
Average Earnings Index +Bonus (Sep) |
|
3.2% |
3.0% |
|
||
|
GBP |
Claimant Count Change (Oct) |
|
1.5K |
4.6K |
|
||
|
GBP |
Unemployment Rate (Sep) |
|
5.4% |
5.4% |
|
||
|
GBP |
BoE Gov Carney Speaks |
|
|
|
|
||
|
EUR |
ECB President Draghi Speaks |
|
|
|
Government Bond Auctions
Date Time Country
Nov 09 13:00 Norway Details bond auction on 11 Nov
Nov 09 16:30 Italy Announces details of BTPs/CCTeu on 12 Nov
Nov 09 19:00 US Holds 3-year note auction
Nov 10 11:00 Holland Eur 2.0-3.0bn 0% Apr 2018 DSL
Nov 10 11:30 UK 0.125% 2058 I/L Gilt auction
Nov 10 19:00 US Holds 10-year note auction
Nov 11 11:03 Sweden Holds bond auction
Nov 11 11:30 Germany Eur 3bn 0.25% Oct 2020 Bobl
Nov 11 12:15 Norway Holds bond auction
Nov 12 11:10 Italy Auctions BTPs/CCTeus
Nov 12 11:30 UK 4.25% 2039 Gilt auction
Nov 12 19:00 US Holds 30-year bond auction
Nov 18 11:30 Germany New Eur 5bn Dec 2017 Schatz
Nov 18 10:30 UK 2% 2025 Gilt auction
Nov 18 10:30 Portugal Eur 1-1.25bn; bond auction
Nov 18 15:30 Sweden Announces details of Bond on 25 Nov
Nov 18 N/A Holland Announces details of Bond on 24 Nov
Nov 19 09:30 Spain Auctions Bonos/Obligaciones
Nov 19 10:50 France Auctions BTANs
Nov 19 11:50 France Auctions OATi
Nov 19 N/A US Holds 10-year TIPS auction
Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov
About the Author
Barry Normanauthor
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