Analysis and Recommendations (EUR/JPY Forecast):
The EUR/JPY added 14 points to trade at 136.76 as both of the currencies eased in the morning session. The euro continued to hold its strength, even though there has been no breakthrough in talks between Greece and its creditors on overhauling its bailout terms.
The Bank of Japan has rejected the idea of an imminent injection of further monetary stimulus into the economy, amid growing evidence of the favorable impact of a weakened yen on Japanese companies.
Ahead of next week’s BoJ monetary policy meeting, governor Haruhiko Kuroda said on Friday there was a steady improvement in inflation as the economy picked up, and the bank was sticking to a two-year timescale for reaching its 2 per cent inflation target.
The yen is rekindling traders’ interest, as the impact of “Abenomics” and monetary easing plays well with Japanese exporters.
ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. 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 for EUR/JPY in our weekly reports and we provide daily updates and outlooks.
Today’s economic releases actual vs. forecast:
|JPY||Industrial Production (MoM)||-0.3%||-0.3%|
|JPY||Tertiary Industry Activity Index||-0.5%||0.3%|
Upcoming Economic Events that you should be monitoring for EUR/JPY in forex trading:
Tuesday, May 19, 2015
|AUD||Monetary Policy Minutes|
|GBP||CPI (YoY) (Apr)|
|EUR||German ZEW Economic||49.0||53.3|
|EUR||CPI (YoY) (Apr)||0.0%||0.0%|
|USD||Building Permits (Apr)||1.065M||1.042M|
|CAD||BoC Gov Poloz Speaks|
Government Bond Auctions
Date Time Country
May 20 09:03 Sweden Holds bond auction
May 21 08:30 Spain Auctions Bonos
May 21 09:03 Sweden Holds bond exchange auction
May 21 09:10 France Auctions BTANs
May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt
May 21 10:10 France Auctions
May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May
May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year
May 21 17:00 US Auctions 10-year TIPs
May 22 09:03 Sweden Holds bond exchange auction
May 22 10:00 Norway Details bond auction on 27 May
EUR/JPY technical analysis forecast
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