EUR/JPY Weekly Fundamental Analysis, October 20-24, 2014 Forecast

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Updated: Aug 25, 2015, 02:00 UTC

Weekly Analysis and Recommendations: The EUR/JPY edged to 136.40 as the yen remained in the driver’s seat this week as traders moved to risk off trading.

EUR/JPY Weekly Fundamental Analysis, October 20-24, 2014 Forecast

Weekly Analysis and Recommendations:

The EUR/JPY edged to 136.40 as the yen remained in the driver’s seat this week as traders moved to risk off trading. The euro continued to recover during the week on comments from the ECB. A sharp slide in Japanese stocks and a rebound in the yen, driven in part by concerns about global growth, have added to headwinds for Japan’s economy, which is struggling with soft exports and the chilling effect of a sales tax hike in April.

The sources said BOJ officials think the market turmoil is temporary and unlikely to do lasting damage to the economy. They are unlikely to change their on-hold policy stance unless it becomes a shock severe enough to derail their forecast of moderate economic recovery, the sources added.

BOJ Governor Haruhiko Kuroda has stuck to his upbeat tone on the outlook, stressing that Japan is on track to meet the BOJ’s inflation target as the pain of the jump in sales tax to 8 percent from 5 percent starts to ebb.

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.

Historical: From 2011 to Present

Highest: 143.00 JPY on September 2014

Average: 109.45 JPY over this period.

Lowest: 94.12 JPY on Jul 24, 2012

Economic Highlights of the coming week:

Day	Cur.	Imp.	Event	Actual	Forecast	Previous
Tuesday, October 21
	CNY		GDP (QoQ) (Q3)		1.8%	2.0%
	CNY		GDP (YoY) (Q3)		7.2%	7.5%
	CNY		Industrial Production (YoY) (Sep)		7.5%	6.9%
	USD		Existing Home Sales (Sep)		5.10M	5.05M
Wednesday, October 22
	AUD		CPI (QoQ) (Q3)		0.4%	0.5%
	USD		Core CPI (MoM) (Sep)		0.1%
	CAD		Core Retail Sales (MoM) (Aug)			-0.6%
	CAD		Interest Rate Decision			1.00%
Thursday, October 23
	CNY		HSBC Manufacturing PMI (Oct)			50.2
	EUR		German Manufacturing PMI (Sep)		49.5	49.9
	GBP		Retail Sales (MoM) (Sep)		-0.1%	0.4%
Friday, October 24
	GBP		GDP (YoY) (Q3)		3.0%	3.2%
	GBP		GDP (QoQ) (Q3)		0.7%	0.9%
	USD		New Home Sales (Sep)		470K	504K