EUR/JPY Fundamental Analysis – November 5, 2015 – Forecast
The EUR/JPY dipped 7 points to 132.67 as the euro eased after comments from Mario Draghi. The euro stayed weak versus both the dollar and the yen after falling the previous day as European Central Bank President Mario Draghi reiterated the central bank’s readiness to expand monetary easing in December, dealers said.
Major Japanese automakers shattered their own records for new car sales in October in the United States lifted by low fuel prices and low interest rates while benefiting from an extra selling day in the month, data released by Autodata Corp. showed Tuesday.
“October was a huge month for the industry, smashing expectations and continuing its hot streak,” Toyota group Vice President Bill Fay said in a press release.
Overall sales totaled 1,455,516 cars and light trucks in October, 13.6 percent more than the year before. The total translates to 18.24 million units in seasonally adjusted annualized sales, according to the U.S. research company.
Among Japanese automakers, Toyota Motor Corp. posted a 13 percent increase in the month, selling 204,045 vehicles, making it the third-largest automaker in the country. It was the first year Toyota sold more than 200,000 vehicles in October.
Toyota said both its namesake division and Lexus luxury brand broke October records, boosted by strong sales increases, 18.8 percent and 33.9 percent, respectively, of its sport utility vehicles and light trucks.
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:
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Cur. |
Event |
Actual |
Forecast |
Previous |
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USD |
API Weekly Crude Oil Stock |
2.800M |
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4.100M |
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NZD |
Employment Change (QoQ) (Q3) |
-0.4% |
0.4% |
0.3% |
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NZD |
Unemployment Rate (Q3) |
6.0% |
6.0% |
5.9% |
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AUD |
Retail Sales (MoM) (Sep) |
0.4% |
0.4% |
0.4% |
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AUD |
Trade Balance (Sep) |
-2.317B |
-3.000B |
-2.711B |
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CNY |
Caixin Services PMI (Oct) |
52.0 |
50.8 |
50.5 |
Upcoming Economic Events that you should be monitoring:
Wednesday, November 4, 2015
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Cur. |
Event |
Actual |
Forecast |
Previous |
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AUD |
RBA Governor Stevens Speaks |
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JPY |
Monetary Policy Meeting Minutes |
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USD |
FOMC Member Stanley Fischer |
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EUR |
German Factory Orders (MoM) (Sep) |
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1.0% |
-1.8% |
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EUR |
ECB Economic Bulletin |
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EUR |
Retail Sales (MoM) (Sep) |
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0.2% |
0.0% |
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EUR |
ECB President Draghi Speaks |
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GBP |
Interest Rate Decision (Nov) |
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0.50% |
0.50% |
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GBP |
BoE MPC Meeting Minutes |
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GBP |
BoE Gov Carney Speaks |
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USD |
FOMC Member Dudley Speaks |
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USD |
Initial Jobless Claims |
|
262K |
260K |
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USD |
Unit Labor Costs (QoQ) (Q3) |
|
2.3% |
-1.4% |
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USD |
FOMC Member Stanley Fischer |
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USD |
FOMC Member Lockhart Speaks |
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Government Bond Auctions
Date Time Country
Nov 03 10:10 Austria Holds RAGB bond sale
Nov 04 15:30 Sweden Announces details of Bond on 11 Nov
Nov 04 N/A Holland Announces details of Bond on 10 Nov
Nov 05 09:30 Spain Auctions Bonos
Nov 05 09:50 France Auctions OATs
Nov 05 10:03 Sweden Holds I/L bond auction
Nov 09 12:00 Norway Details bond auction on 11 Nov
Nov 09 15:30 Italy Announces details of BTPs/CCTeu on 12 Nov
Nov 09 N/A US Holds 3-year note auction
Nov 10 10:30 UK 0.125% 2058 I/L Gilt auction
Nov 10 N/A Holland Eur 2.0-3.0bn 0% Apr 2018 DSL
Nov 10 N/A US Holds 10-year note auction
Nov 11 10:03 Sweden Holds bond auction
Nov 11 11:15 Norway Holds bond auction
Nov 11 10:30 Germany Eur 3bn 0.25% Oct 2020 Bobl
Nov 12 10:10 Italy Auctions BTPs/CCTeus
Nov 12 10:30 UK 4.25% 2039 Gilt auction
Nov 12 N/A US Holds 30-year bond auction
