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EUR/JPY Analysis Forecast, June 08, 2015 – Forecast

eurjpy friday bnsnlaAnalysis and Recommendations (EUR/JPY Forecast):

The EUR/JPY dipped 20 points and the euro corrected from over stimulation by the ECB and Greek negotiations. The pair is trading at 139.55. Investors continued to digest the ECB comments about market volatility, while concerns about Greece’s upcoming debt repayments also dominated news. Greece said they will delay a debt payment of about €301 million due Friday, submitting a request to the IMF to bundle payments totaling about $1.7 billion due this month into one lump-sum payment.

German Chancellor Angela Merkel held emergency talks this week with top officials from the IMF and European Central Bank to craft a proposal to break the deadlock. But discussions with Greek Prime Minister Alexis Tsipras failed to produce a breakthrough.

Analysts said the decision to delay the IMF payment marked a significant escalation in the crisis. Just hours earlier, Tsipras had signaled it would go through.

The excessive strength in the yen that damaged Japanese manufacturing in recent years has now been corrected, according to an ally of Bank of Japan Gov. Haruhiko Kuroda. “The abnormally strong yen has been corrected,” said Yutaka Harada, who joined the central bank’s Policy Committee.           

ForexTraq 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.

Today’s economic releases actual vs. forecast:

It is a light data day until the US NFP – There was no top tier data in Asia

Cur.

 

Event

Actual

Forecast

Previous

 

  EUR

 

German Factory Orders (MoM)

 

0.5%

0.9%

 

 

  EUR

 

GDP (QoQ) (Q1)  

 

0.4%

0.4%

 

 

  EUR

 

GDP (YoY) (Q1)  

 

1.0%

1.0%

 

 

  USD

 

Average Hourly Earnings (MoM)

 

0.2%

0.1%

 

 

  USD

 

Nonfarm Payrolls (May)

 

225K

223K

 

 

  USD

 

Participation Rate (May)

 

 

62.8%

 

 

  USD

 

Private Nonfarm Payrolls (May)

 

220K

213K

 

 

  USD

 

Unemployment Rate (May)

 

5.4%

5.4%

   

 EURJPY(60 minutes)20150605053825

Upcoming Economic Events that you should be monitoring:

Monday, June 08, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

 

 

 

Australia – Queen’s Birthday

  JPY

 

Current Account n.s.a. (Apr)

 

 

2.795T

 

 

  JPY

 

GDP (QoQ) (Q1)

 

 

0.6%

 

 

  JPY

 

GDP (YoY) (Q1)

 

 

2.4%

 

 

  CNY

 

Exports (YoY) (May)

 

-5.0%

-6.4%

 

 

  CNY

 

Imports (YoY) (May)

 

-10.7%

-16.2%

 

 

  CNY

 

Trade Balance (May)

 

44.95B

34.13B

 

 

  EUR

 

German Industrial Production

 

0.6%

-0.5%

 

 

  EUR

 

German Trade Balance (Apr)

 

19.0B

19.3B

 

 

  CAD

 

Housing Starts (May)

 

 

181.8K

 

 

  CAD

 

Building Permits (MoM) (Apr)

 

 

11.6%

 

 

Government Bond Auctions

Date Time Country

Jun 08 12:00 Norway Details bond auction on 10 Jun

Jun 08 17:30 Italy Announces details of BTP/CCTeu on 11 June

Jun 09 11:10 Austria Holds RAGB bond sale

Jun 09 11:30 UK Auctions 0.125% 2024 I/L Gilt

Jun 10 11:15 Norway Holds bond auction

Jun 10 11:30 Germany Eur 5bn Jun 2017 Schatz

Jun 10 16:30 Sweden Details bond auction on 17 June

Jun 11 11:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Holds inflation-linked bond auction

Jun 11 11:30 UK Auctions 3.5% 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

 

EUR/JPY analysis forecast

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