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EUR/JPY Analysis Forecast, May 20, 2015 – Forecast

Analysis and Recommendations (EUR/JPY Analysis Forecast for 20 May):

The EUR/JPY dipped 27 points to 135.50 as the situation in Greece stayed in the headlines.  The euro continues to ease against its crosses. “Greece is running on fumes and the risk of non-payment of some form is riding high … These are desperate times and desperate stakes,” Rabobank fixed income strategist Richard McGuire said.

The country made a May 12 payment to the IMF only by emptying an IMF holding account, and a leaked IMF memo acknowledged Greece had little chance of making a scheduled June 5 payment. Many in the market say the next two weeks will be crucial for the country.

Analysts believe that the Japanese economy continues to face strong headwinds at the current moment. The production data is on the back of reports that retail sales in the Japanese economy continued to show downward momentum indicative of the lack of consumer spending in the economy at the current moment. According to the report, sales declined by 1.9 percent in the month of March as against an expectation for a gain of 0.6 percent. It is imperative to state that the Central Bank of Japan has repeatedly stated that it would continue adding to the stimulus till the time inflation doesn’t pick up and move towards the 2 percent target.

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.

EUR/JPY chart

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  NZD PPI Input (QoQ) (Q1) -1.1% -0.7% -0.4%
  AUD Monetary Meeting Minutes
  NZD Inflation Expectations (QoQ) 1.8%

 

Upcoming Economic Events that you should be monitoring for EUR/JPY in forex trading:

Wednesday, May 20, 2015

Cur. Event Actual Forecast Previous
  JPY GDP (QoQ) (Q1) 0.4% 0.4%
  JPY GDP (YoY) (Q1) 1.5% 1.5%
  AUD Westpac Consumer Sentiment -3.2%
  EUR German PPI (MoM) (Apr) 0.2% 0.1%
  GBP BoE MPC Meeting Minutes
  CAD Wholesale Sales (MoM) (Mar) 0.7% -0.4%
  USD Crude Oil Inventories -2.191M
  USD FOMC Meeting Minutes

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 analysis forecast

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