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EUR/JPY Fundamental Analysis, May 8, 2015 – Forecast

Analysis and Recommendations (EUR/JPY Forecast):

The EUR/JPY added 5 points in the morning session to trade at 135.58 as the euro weakened but the JPY seemed to be show more weakness as traders returned from the long holiday which has had the Japanese markets shuttered since the end of last week.

Japan’s monetary base stood at a record ¥305.88 trillion ($2.56 trillion) at the end of April, up 35.6 percent from a year earlier, as the Bank of Japan continued to provide more liquidity to raise the inflation rate to its targeted 2 percent, BOJ data showed Thursday.

The monetary base reached an all-time high for the ninth straight month and topped the ¥300 trillion line for the first time. The central bank took additional monetary easing steps last October to raise the pace of supplying funds.

The balance of financial institutions’ current account deposits at the BOJ, the biggest part of the monetary base, came to ¥210.22 trillion, up 57.1 percent.

Under the stimulus measures, the BOJ aims to boost the monetary base at an annual pace of about ¥80 trillion, up from ¥60 trillion to ¥70 trillion under its previous policy.

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:

Cur. Event Actual Forecast Previous
  AUD Employment Change (Apr) -2.9K 5.0K 48.2K
  AUD Full Employment Change (Apr) -21.9K 41.3K
  AUD Unemployment Rate (Apr) 6.2% 6.2% 6.1%

 eurjpy thurs

Upcoming Economic Events that you should be monitoring:

Friday, May 8, 2015

Cur. Event Actual Forecast Previous
  CNY Trade Balance (Apr) 39.45B 3.08B
  USD Nonfarm Payrolls (Apr) 224K 126K
  USD Unemployment Rate (Apr) 5.4% 5.5%
  CAD Employment Change (Apr) -5.0K 28.7K

Government Bond Auctions

Date Time Country

May 07 08:30 Spain Auctions 0.5% Oct 2017 Bono, 0.55%

May 07 09:10 France Auctions OATs

May 07 09:10 Sweden Holds inflation-linked bond auction

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

May 08 15:30 Italy Announces details of BTP

May 12 09:15 Norway Holds bond auction

May 13 09:10 Italy Auctions BTPs/CCTeus

May 13 09:30 Germany Eur 3bn Feb 2025 Bund

May 13 14:30 Sweden Details bond auction on 20 May

May 14 09:30 UK Auctions 2% 2020 Conventional Gilt

EUR/JPY Exchange Rate

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