The EUR/JPY fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for EUR/JPY. This is mainly derived from the recent major economic releases and news. The EUR/JPY economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.
EUR: Consumer Confidence (prelim): -22.30, positive as compared to the forecasts (-23.85) as well as the previous -23.50.
EUR: Markit Manufacturing PMI (prelim): German data was 47.9 and less than the consensus and previous 49.0. Same with Euro zone's 46.5 against 46.8.
EUR:Markit Service PMI: German data was 49.2 against the forecasts of 51.0 and previous 50.9. Euro zone's services PMI was little changed from the previous 46.4 and was same as the consensus of 46.6.
EUR: German IFO Indexes: Business climate 104.4 and negative as compared to the forecasts (106.2) as well as the previous 106.7. Current assessment 107.2 and again less than the consensus of 109.5 and previous 109.9. Same with Expectations which came out as 101.6 against the expected 103.0 and previous 103.6.
JPY: National Consumer Price Index: Year on year change -0.9% against the previous -0.7%. The year on year CPI ex Food and energy was -0.8% against the previous -0.9%. Year on year CPI ex Fresh Food was -0.5% and negative as compared to the forecasts (-0.4%) as well as the previous -0.3%.
JPY: Interest rate was kept same at 0.1%.
JPY: Bank of Japan issued the monetary policy statement that the BoJ will conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen.
Economic Strength Meters (Other currency pairs)