EUR/JPY Fundamental Analysis November 8, 2012, Forecast

EUR/JPY Fundamental Analysis November 8, 2012, Forecast
EUR/JPY Fundamental Analysis November 8, 2012, Forecast

Analysis and Recommendations:

The EUR/JPY is trading at 102.95. The euro is trading in a fairly low range against the US dollar although it has picked up momentum this morning after Mr. Obama was declared the winner in the hotly contested US election. The JPY is weak as the BoJ and government officials try to add stimulus to the economy to jump start the slowing growth and export markets.

Once the knee-jerk election reaction passes, we expect the tone towards EUR to turn bearish again. The intensity over the escalation of both political and funding problems for Greece is concerning and should limit EUR rallies. Thursday’s ECB meeting is unlikely to prove EUR positive and the market is likely to refocus on Europe after being sidelined by the US over the last several weeks

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 7, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Nov. 06

 

USD

 

 

US Presidential Election 

 Obama Wins

 

There were no other releases this morning in Asia

 

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

Date

Time

Currency

Event

Forecast

Previous

Nov. 08

00:30

AUD

Employment Change 

 

14.5K

Nov. 09

01:30

CNY

Chinese CPI (YoY) 

1.9%

1.9%

 

01:30

CNY

Chinese PPI (YoY) 

-2.7%

-3.6%

 

01:30

CNY

Chinese CPI (MoM) 

0.1%

0.3%

 

05:30

CNY

Chinese Fixed Asset Investment (YoY) 

20.6%

20.5%

 

05:30

CNY

Chinese Industrial Production (YoY) 

9.4%

9.2%

 

05:30

CNY

Chinese Retail Sales (YoY) 

14.1%

14.2%

Government Bond Auction

Date Time Country 

Nov 08 9:30 Spain 

Nov 08 10:10 Sweden 

Nov 08 16:30 Italy  

Nov 08 18:00 US 

Nov 09 11:00 Belgium 

Nov 09 16:30 Italy

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