EUR/JPY Fundamental Analysis November 12, 2013 Forecast

EUR/JPY Fundamental Analysis November 12, 2013 Forecast
EUR/JPY Fundamental Analysis November 12, 2013 Forecast
Analysis and Recommendations:

The EUR/JPY fell by 12 pips to trade at 132.30 as the euro continues to weaken from its recent highs since Mario Draghi and the board of the ECB reduced interest rates by 25bps. After European inflation printed well below expectations, the ECB was pushed into action.  Japan posted a current account surplus of 587.3 billion yen in September, the Ministry of Finance said on Monday – remaining in the green for the eighth consecutive month. The headline figure topped expectations for a surplus of 400.8 billion yen following the 161.5 billion yen surplus in August. The surplus jumped 14.3 percent on year, also beating forecasts for a contraction of 10.4 percent following the 63.7 percent annual plummet a month earlier. The trade balance reflected a deficit of 874.8 billion yen, missing forecasts for a shortfall of 853.9 billion yen after showing a deficit of 885.9 billion yen in August.

The Bank of Japan said that total bank lending excluding trusts was up 2.3 percent on year in October, standing at 407.750 trillion yen. That was in line with forecasts and up from the 2.2 percent gain in September following a downward revision from 2.3 percent. Including trusts, bank lending added an annual 2.0 percent to 469.818 trillion yen – unchanged and in line with forecasts. Lending from foreign banks jumped 8.1 percent on year to 2.298 trillion yen after shedding 4.1 percent in the previous month.

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.

Economic Data November 11, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Nov. 11

 

JPY

 

 

Adjusted Current Account 

-0.13T

 

-0.10T 

 

0.35T 

 

 

 

 

JPY

 

 

Bank Lending (YoY) 

2.0%

 

 

 

2.0% 

 

 

 

 

JPY

 

 

Current Account n.s.a. 

0.587T

 

0.400T 

 

0.162T 

 

 

 

 

AUD

 

 

Home Loans (MoM) 

4.4%

 

4.0% 

 

-4.0% 

   

 

 

MYR

 

 

Malaysian Industrial Production (YoY) 

1.0%

 

2.5% 

 

2.3% 

   

 eurjpy 1111bnsnla

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Previous

Nov. 12

00:30

AUD

NAB Business Confidence 

12

Government Bond Auction

Date Time Country 

Nov 12 09:10 Holland

Nov 12 10:10 Italy

Nov 12 10:10 Norway

Nov 12 10:30 Belgium

Nov 12 15:30 UK

Nov 12 18:00 US

Nov 13 09:30 Swiss

Nov 13 10:10 Italy

Nov 13 10:10 Sweden

Nov 13 10:30 Germany

Nov 13 18:00 US

Nov 14 10:30 UK

Nov 14 16:00 US

Nov 14 18:00 US

Leave a Reply

Your email address will not be published. Required fields are marked *