Advertisement
Advertisement
EUR/JPY Weekly Fundamental Analysis September 23-27, 2013 Forecast
By:
Weekly Analysis and Recommendations: The EUR/JPY ended the week well above its average trading range climbing to a high of 1.3494 and closing at 134.38.
Weekly Analysis and Recommendations:
The EUR/JPY ended the week well above its average trading range climbing to a high of 1.3494 and closing at 134.38. The euro rose to a 3-1/2 year high against the yen on Thursday, as the safe-haven Japanese currency came under fresh downward pressure as riskier assets and currencies rallied. European Union finance experts have reached a preliminary agreement on changing the way the bloc determines some deficit figures, which will lessen the pressure for austerity measures in some crisis-hit economies, an EU official said Thursday. The change to the calculation of the bloc’s structural deficit would have “very significant” positive consequences for Spain because of its labor market structure, and somewhat less so for Ireland, Greece and Portugal, the official said.
|
Date |
Last |
Open |
High |
Low |
Change % |
|
Sep 20, 2013 |
134.38 |
134.52 |
134.74 |
134.17 |
-0.11% |
|
Sep 19, 2013 |
134.52 |
132.79 |
134.94 |
132.58 |
1.30% |
|
Sep 18, 2013 |
132.79 |
132.43 |
132.85 |
131.87 |
0.27% |
|
Sep 17, 2013 |
132.43 |
132.16 |
132.64 |
132.12 |
0.21% |
|
Sep 16, 2013 |
132.15 |
132.25 |
132.37 |
131.88 |
-0.09% |
The euro hit a 42-month high of 134.38 against the yen after Bank of Japan chief Haruhiko Kuroda said quantitative easing will continue until prices are stable. The euro also touched a seven-month high of 1.3552 against the dollar after the Federal Reserve’s decision to leave monetary support policies unchanged.
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.
Major Economic Events for the week of September 16-20 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Sep. 16 |
13:30 |
USD |
NY Empire State Manufacturing Index |
6.29 |
9.20 |
8.24 |
|
|
14:15 |
USD |
Industrial Production (MoM) |
0.4% |
0.4% |
0.0% |
|
Sep. 17 |
13:30 |
USD |
Core CPI (MoM) |
0.1% |
0.1% |
0.2% |
|
|
13:30 |
USD |
CPI (MoM) |
0.1% |
0.2% |
0.2% |
|
|
13:30 |
USD |
CPI (YoY) |
1.5% |
1.6% |
2.0% |
|
|
13:30 |
USD |
Core CPI (YoY) |
1.8% |
1.8% |
1.7% |
|
|
14:00 |
USD |
TIC Net Long-Term Transactions |
31.1B |
-45.3B |
-67.0B |
|
|
23:45 |
NZD |
Current Account |
-1.25B |
-1.80B |
-0.66B |
|
Sep. 18 |
13:30 |
USD |
Building Permits |
0.918M |
0.950M |
0.954M |
|
|
13:30 |
USD |
Housing Starts |
0.891M |
0.917M |
0.883M |
|
|
13:30 |
USD |
Building Permits (MoM) |
-3.8% |
-0.4% |
3.9% |
|
|
13:30 |
USD |
Housing Starts (MoM) |
0.9% |
3.0% |
5.7% |
|
|
19:00 |
USD |
Interest Rate Decision |
0.25% |
0.25% |
0.25% |
|
|
23:45 |
NZD |
GDP (QoQ) |
0.2% |
0.1% |
0.4% |
|
Sep. 19 |
00:50 |
JPY |
Adjusted Trade Balance |
-0.79T |
-0.81T |
-0.91T |
|
|
00:50 |
JPY |
Trade Balance |
-960B |
-1101B |
-1024B |
|
|
13:30 |
USD |
Current Account |
-98.9B |
-97.0B |
-104.9B |
|
|
13:30 |
USD |
Initial Jobless Claims |
309K |
330K |
294K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
2787K |
2900K |
2815K |
|
|
15:00 |
USD |
Existing Home Sales |
5.48M |
5.25M |
5.39M |
|
|
15:00 |
USD |
Philadelphia Fed Manufacturing Index |
22.3 |
10.0 |
9.3 |
|
|
15:00 |
USD |
Existing Home Sales (MoM) |
1.7% |
-2.6% |
6.5% |
Historical: From 2011 to Present
Highest: 133.80JPY on May 22, 2013
Average: 109.45JPY over this period.
Lowest: 94.12 JPY on Jul 24, 2012
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Sep. 23 |
02:45 |
CNY |
50.1 |
||
|
Sep. 24 |
15:00 |
USD |
79.5 |
81.5 |
|
|
|
23:45 |
NZD |
-743M |
-774M |
|
|
Sep. 25 |
13:30 |
USD |
1.0% |
-0.8% |
|
|
|
13:30 |
USD |
0.1% |
-7.4% |
|
|
|
15:00 |
USD |
423K |
394K |
|
|
|
15:00 |
USD |
-13.4% |
||
|
Sep. 26 |
13:30 |
USD |
0.7% |
0.7% |
|
|
|
13:30 |
USD |
2.6% |
2.5% |
|
|
|
15:00 |
USD |
-0.5% |
-1.3% |
|
|
Sep. 27 |
00:30 |
JPY |
0.3% |
0.4% |
|
|
|
00:30 |
JPY |
0.5% |
||
|
|
13:30 |
USD |
0.1% |
0.1% |
|
|
|
13:30 |
USD |
0.3% |
0.1% |
|
|
|
14:55 |
USD |
78.0 |
76.8 |
Government Bond Auction
Date Time Country
Sep 23 09:30 Germany
Sep 23 15:30 Italy
Sep 24 08:10 Holland
Sep 24 08:30 Spain
Sep 24 09:10 Norway
Sep 24 14:30 UK
Sep 24 15:30 Italy
Sep 24 17:00 US
Sep 25 09:10 Italy
Sep 25 14:30 Sweden
Sep 25 17:00 US
Sep 26 09:10 Italy
Sep 26 09:10 Sweden
Sep 26 17:00 US
Sep 27 09:10 Italy
About the Author
Barry Normanauthor
Advertisement