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:
|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%|
Upcoming Economic Events that you should be monitoring:
Friday, May 8, 2015
|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