EUR/JPY Fundamental Analysis October 17, 2014 Forecast Analysis and Recommendations: The EUR/JPY gained 10 points to trade at 136.06 as the euro gained as
Analysis and Recommendations:
The EUR/JPY gained 10 points to trade at 136.06 as the euro gained as the US dollar declined as traders worried about lackluster economics data and as well as warning from Wall Street majors. Germany’s Economy Ministry yesterday cut its 2014 forecast to 1.2 percent from 1.8 percent, and reduced its estimate for next year to 1.3 percent from 2 percent. China’s consumer prices rose the least in almost five years and factory-gate prices fell the most since April, official data showed today.
Per Bloomberg, the euro has dropped 0.3 percent in the past three months according to Bloomberg Correlation Weighted Indexes, which track 10 developed-nation currencies. The dollar is up 5.7 percent and the yen has gained 1 percent. The common currency, battered by prospects of the European Central Bank easing monetary policy further to stave off deflation in the euro zone, had stooped to a two-year low.
he yen climbed for a sixth day against a basket of nine peers as futures signaled Asian stocks will drop after the Standard & Poor’s 500 Index touched a six-month low 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.
Today’s economic releases actual vs. forecast:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
Business NZ PMI (Sep) |
58.1 |
|
56.5 |
|
|
|
CNY |
New Loans |
|
750B |
703B |
Upcoming Economic Events that you should be monitoring:
Cur. |
Imp. |
Event |
Actual |
Forecast |
Previous |
||
|
USD |
Building Permits (Sep) |
|
1.029M |
1.003M |
|
|
|
USD |
Building Permits (MoM) |
|
2.8% |
-5.6% |
|
|
|
USD |
Fed Chair Yellen Speaks |
|
|
|
|
|
|
USD |
Housing Starts (MoM) |
|
4.8% |
-14.4% |
|
|
|
USD |
Housing Starts (Sep) |
|
1.004M |
0.956M |
|
|
|
CAD |
Core CPI (MoM) (Sep) |
|
0.1% |
0.5% |
|
|
|
CAD |
Core CPI (YoY) (Sep) |
|
2.0% |
2.1% |
|
|
|
CAD |
CPI (MoM) (Sep) |
|
0.0% |
0.0% |
|
|
|
USD |
Michigan Consumer |
|
74.4 |
75.4 |
|
|
|
USD |
Michigan Consumer |
|
84.1 |
84.6 |
Government Bond Auction
Date Time Country Auction
Oct 20 12:00 Belgium OLO Auction
Oct 20 12:00 Slovakia Bond auction (for decision)
Oct 21 10:30 Spain 3 & 9M T-bill auction
Oct 21 11:00 Norway Bond auction
Oct 21 11:00 UK Auctions 2.75% 2024 Gilt
Oct 22 11:30 Germany Eur 2.0bn Aug 2046 Bund auction
Oct 23 11:03 Sweden I/L bond auction
Oct 23 17:00 US Announces 2/5/7Y Note & 2Y FRN auctions on Oct 28/29/30 & 29
Oct 23 17:30 Italy Announces details of BTPei/CTZ auctions on Oct 28
Oct 23 19:00 US 30Y TIPS auction
Oct 24 17:30 Italy Announces details of BOT auction on Oct 29