EUR/JPY Fundamental Analysis November 22, 2013 Forecast

eurjpy thursday bnsnlaAnalysis and Recommendations:

The EUR/JPY gained this morning after declining most of the week. The pair was trading in the 135 range but is at 1.3478 this morning after opening at 134.44. The euro eased against its crosses after work that the ECB was considering lowering its deposit rate into negative territory. The bank has denied the report. JPY traders are waiting for Mr. Kudora’s decision due shortly as the BoJ finishes its November meeting. Traders are expecting the Bank to continue its current programs without changes.  At this writing the bank decision has been released and the bank maintained its current policy so traders are now waiting for the press conference.  At the end of a two-day meeting of the nine-member Policy Board, led by Governor Haruhiko Kuroda, the central bank said it will keep the target of the monetary base expansion at an annual pace of JPY 60-70 trillion. The Board said that the economy has been recovering moderately and the year-on-year change in the core consumer price index is now in the range of 0.5-1 percent. The BoJ expects the economy to continue moderate recovery going forward while the annual rate of change in CPI is seen rising gradually.

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 21, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Nov. 21

 

JPY

 

 

Foreign Bonds Buying 

349.9B

 

 

 

357.8B 

   

 

 

SGD

 

 

Singaporean GDP (YoY) 

5.8%

 

5.3% 

 

5.1% 

 

 

 

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

50.4

 

50.8 

 

50.9 

 

 

 

 

NZD

 

 

Credit Card Spending (YoY) 

3.2%

 

 

 

5.1% 

   

 

 

JPY

 

 

Interest Rate Decision 

 

 

0.10% 

 

0.10% 

 

 

 

 

JPY

 

 

BoJ Press Conference 

 

 

 

 

 

   

 eurjpy 1120bnsnla

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

Date

Time

Currency

Event

Previous

Nov. 22 

16:00

USD

KC Fed Manufacturing 

6.00 

Government Bond Auction

Date Time Country 

Nov 22 16:30 Italy

Nov 25 10:30 Germany

Nov 25 11:00 Belgium

Nov 25 16:30 Italy

Nov 25 18:00 US

Nov 26 09:10 Holland

Nov 26 09:30 Spain

Nov 26 10:10 Italy

Nov 26 12:00 Norway

Nov 26 18:00 US

 

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