EUR/JPY Fundamental Analysis October 20, 2014 Forecast

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Updated: Aug 25, 2015, 01:00 UTC

Analysis and Recommendations: The EUR/JPY eased by 4 points to trade at 136.17 down by 4 points on the lack of economics data. Greece’s 10-year yield

EUR/JPY Fundamental Analysis October 20, 2014 Forecast

Analysis and Recommendations:

The EUR/JPY eased by 4 points to trade at 136.17 down by 4 points on the lack of economics data. Greece’s 10-year yield jumped 111 basis points, or 1.11 percentage point, to 8.96 percent after rising 85 basis points yesterday. Spain’s 10-year yield climbed six basis points to 2.17 percent. Even France wasn’t immune to the selloff, with that nation’s 10-year yield increasing 12 basis points to 1.26 percent.

European Central Bank President Mario Draghi in Washington said on Oct. 11 that the central bank will use further unconventional monetary policy instruments if needed to support a recovery. The ECB has already implemented a negative deposit rate, offered cheap loans to banks and unveiled a plan to buy asset-backed securities.

The dollar climbed versus a majority of its major peers with growth in the U.S. forecast to outpace Europe and Japan, and on speculation the worst slump against the yen in 15 months yesterday was overdone.

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Today’s economic releases actual vs. forecast:

There are no data releases scheduled Friday morning for the Asian markets. Market focus will be on Janet Yellen’s speech later today