EUR/JPY Fundamental Analysis October 9, 2014 Forecast

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Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: The EUR/JPY dipped 18 points to trade at 136.81 down by 18 points euro continues to decline on lackluster German factory

EUR/JPY Fundamental Analysis October 9, 2014 Forecast

Analysis and Recommendations:

The EUR/JPY dipped 18 points to trade at 136.81 down by 18 points euro continues to decline on lackluster German factory data. The Japanese yen continued to increase after the Bank of Japan left policy and rates in place at their monthly meeting yesterday. The yen was near a one-month high versus the euro after the International Monetary Fund cut its global growth forecast, boosting demand for havens. The Australian and New Zealand dollars fell after a private report showed growth in services industries slowed in China. Finance ministers and central bankers from the Group-of-20 economies will meet this week. During Asian trading yesterday, the yen was whipsawed by speculation when the Bank of Japan’s policy meeting was halted mid-session so Governor Haruhiko Kuroda could attend parliament at the request of opposition lawmaker Tesoro Fukuyama. The Japanese currency had been falling toward a six-year low of 110 per dollar, before reversing course and rising.

Japanese consumer spending has been curbed by a sales-tax increase, also had its outlook cut. The IMF said Japan’s gross domestic product will expand 0.8 percent next year, compared with a 1.1 percent advance predicted in July.

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
JPY	Adj. Current Account	0.13T	0.19T	0.10T
JPY	Current Account n.s.a.	0.287T	0.198T	0.417T
CNY	HSBC Services PMI	53.5	53.8	54.1
JPY	BoJ Monthly Report

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
GBP	RICS House Price Bal.		38%	40%
AUD	Employment Change		-30.0K	121.0K
AUD	Full Employment			14.3K
AUD	Unemployment Rate		6.2%	6.1%
EUR	German Trade Balance		18.5B	22.2B
EUR	ECB Monthly Report
GBP	Interest Rate Decision		0.50%	0.50%
USD	Initial Jobless Claims		294K	287K
CAD	New Housing Price		0.2%	0.0%
EUR	ECB President Draghi