Outlook and Recommendation
The EUR/JPY climbed this month to close at 103.50. – JPY weakened in late October, as a result of the expectations for and the delivery of accommodative monetary policy from the Bank of Japan (BoJ). Uncertainty over Japanese politics and leadership at the BoJ after the spring of 2013 added a further weight to JPY and US-JN bond yield support fell away. Investors have shifted to a bearish stance, with the CFTC reporting a net short position of $2.9 billion as of October 23rd
Highest:104.59
|
Lowest:99.79
|
Difference:4.80
|
Average:102.51
|
Change %:2.89
|
Whereas in the eurozone, the economic situation remains precarious despite the apparent stability in the euro (EUR) versus the USD. Financial market conditions have stabilized following the European Central Bank (ECB) strategy to support government debt markets in countries in distress, yet investor sentiment remains fragile. The euro remained weak with Greece and Spain tugging at its drawstrings and no way to fix the problems.
FxEmpire 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 dailyupdates and outlooks
Central Bank Name: European Central Bank
Date of next meeting or last meeting: Nov 08, 2012
Current Rate: 0.750%
Economic events for the month of November affecting AUD, JPY, NZD and USD
Date
|
Time
|
Currency
|
Event
|
Forecast
|
Previous
|
Nov 1
|
8:15am
|
USD
|
ADP Non-Farm Employment
|
139K
|
162K
|
8:30am
|
USD
|
Unemployment Claims
|
371K
|
369K
| |
10:00am
|
USD
|
CB Consumer Confidence
|
72.4
|
70.3
| |
10:00am
|
USD
|
ISM Manufacturing PMI
|
51.2
|
51.5
| |
8:30pm
|
AUD
|
PPI q/q
|
1.0%
|
0.5%
| |
Nov 2
|
8:30am
|
USD
|
Non-Farm Employment Change
|
123K
|
114K
|
8:30am
|
USD
|
Unemployment Rate
|
7.9%
|
7.8%
| |
Nov 4
|
8:30pm
|
AUD
|
Retail Sales m/m
|
0.2%
| |
8:30pm
|
AUD
|
Trade Balance
|
-2.03B
| ||
Nov 5
|
11:00am
|
USD
|
ISM Non-Manufacturing PMI
|
55.1
| |
11:30pm
|
AUD
|
Cash Rate
|
3.00%
|
3.25%
| |
11:30pm
|
AUD
|
RBA Rate Statement
| |||
Nov 6
|
4:00pm
|
NZD
|
RBNZ Financial Stability Report
| ||
Nov 7
|
5:45pm
|
NZD
|
Employment Change q/q
|
-0.1%
| |
5:45pm
|
NZD
|
Unemployment Rate
|
6.8%
| ||
8:30pm
|
AUD
|
Employment Change
|
14.5K
| ||
8:30pm
|
AUD
|
Unemployment Rate
|
5.4%
| ||
Nov 8
|
9:30am
|
USD
|
Trade Balance
|
-44.2B
| |
9:30am
|
USD
|
Unemployment Claims
| |||
8:30pm
|
AUD
|
RBA Monetary Policy Statement
| |||
Nov 9
|
10:55am
|
USD
|
Prelim UoM Consumer Sentiment
| ||
Nov 14
|
9:30am
|
USD
|
Core Retail Sales m/m
| ||
9:30am
|
USD
|
PPI m/m
| |||
9:30am
|
USD
|
Retail Sales m/m
| |||
Nov 15
|
9:30am
|
USD
|
Core CPI m/m
| ||
11:00am
|
USD
|
Philly Fed Manufacturing Index
| |||
Nov 18
|
5:45pm
|
NZD
|
Core Retail Sales q/q
| ||
5:45pm
|
NZD
|
PPI Input q/q
| |||
Nov 19
|
11:00am
|
USD
|
Existing Home Sales
| ||
9:30am
|
USD
|
Building Permits
| |||
Nov 21
|
10:30pm
|
CNY
|
HSBC Flash Manufacturing PMI
| ||
Nov 22
|
9:30am
|
USD
|
Unemployment Claims
| ||
Nov 27
|
9:30am
|
USD
|
Core Durable Goods Orders m/m
| ||
11:00am
|
USD
|
CB Consumer Confidence
| |||
Nov 28
|
11:00am
|
USD
|
New Home Sales
| ||
8:00pm
|
NZD
|
NBNZ Business Confidence
| |||
8:30pm
|
AUD
|
Private Capital Expenditure q/q
| |||
Nov 29
|
9:30am
|
USD
|
Prelim GDP q/q
| ||
9:30am
|
USD
|
Unemployment Claims
| |||
11:00am
|
USD
|
Pending Home Sales m/m
| |||
Nov 30
|
9:00pm
|
CNY
|
Manufacturing PMI
|
Click here for further EUR/JPY Forecast.
Originally posted here
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