EUR/JPY Fundamental Analysis October 7, 2014 Forecast

By:

Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: The EUR/JPY dipped by 18 points as the Japanese yen gained a bit of momentum in the early morning session climbing to 137.22

EUR/JPY Fundamental Analysis October 7, 2014 Forecast

Analysis and Recommendations:

The EUR/JPY dipped by 18 points as the Japanese yen gained a bit of momentum in the early morning session climbing to 137.22 as traders wait for the Bank of Japan decision due tomorrow. “If the yen weakens in line with the actual state of the economy, I don’t think it will cause big problems,” Kuroda told lawmakers. “It’s probably a plus on the whole”

The comments helped the dollar gain more upside momentum against the yen. The euro was trading at around 137.22 yen having been on a strong bull-run over the past several weeks as investors targeted their trading strategies to synch with the diverging monetary policies between Japan and the United States and Eurozone. Kuroda said a weak yen is a big plus for large exporters and though it’s a minus for non-manufacturers that rely on imports, the central bank chief reiterated that the overall economy won’t be negatively impacted.

The euro remains weak since the decision and press conference of the ECB on Thursday seemed to disappoint and confuse traders. A string of lackluster data continues to weigh on the euro.

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
AUD	MI Inflation Gauge	0.1%		0.0%
AUD	ANZ Internet Job Ads	1.1%		1.4%
AUD	ANZ Job Advertisements	0.9%		1.6%
AUD	ANZ Newspaper Job Ads	-3.5%		1.8%

Upcoming Economic Events that you should be monitoring:

Currency

JPY	Monetary Policy Statement
AUD	Cash Rate
AUD	RBA Rate Statement
JPY	BOJ Press Conference
CHF	Foreign Currency Reserves
GBP	Halifax HPI m/m
CHF	CPI m/m
CHF	Retail Sales y/y
GBP	Manufacturing Production m/m
GBP	BOE Credit Conditions Survey
CAD	Building Permits m/m
GBP	NIESR GDP Estimate
USD	JOLTS Job Openings