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29 Mar 2013
Forex: EUR/JPY rises closer to daily high
FXstreet.com (Barcelona) - The EUR/JPY became heavier by the end of the Asian shift and fell to as low as 120.31. The market was able to bounce back throughout the European morning and made a stronger push on the NY session, where it got to 122.77, closer to the daily high at 122.86.
Tomorrow, the BoJ will publish the Tankan report, with manufacturing and non-manufacturing data in Q1, with expected improvement in both accounts.
Against analysts’ consensus of a drop from 77.6 to 72.5 in March, Reuters/Michigan Consumer Sentiment Index rose to 78.6 in February. The Core Personal Consumption Expenditure - Prices Index remained unchanged at 1.3% in February (YoY), with the monthly figure rising 0.1%, below consensus of 0.2%. Personal consumption expenditures rose 0.4%, with the annualized figure rising from 1.2% to 1.3%. Personal income beat consensus of 0.8% by rising 1.1% (from -3.6% in the previous month). Personal spending disappointed at 0.3%, while investors were pointing at 0.6%.
Mataf.net analysts point to resistance at 120.90, 121.85 and 122.75. On the downside, supports might be found at 120.30, 119.75 and 119.25.
Tomorrow, the BoJ will publish the Tankan report, with manufacturing and non-manufacturing data in Q1, with expected improvement in both accounts.
Against analysts’ consensus of a drop from 77.6 to 72.5 in March, Reuters/Michigan Consumer Sentiment Index rose to 78.6 in February. The Core Personal Consumption Expenditure - Prices Index remained unchanged at 1.3% in February (YoY), with the monthly figure rising 0.1%, below consensus of 0.2%. Personal consumption expenditures rose 0.4%, with the annualized figure rising from 1.2% to 1.3%. Personal income beat consensus of 0.8% by rising 1.1% (from -3.6% in the previous month). Personal spending disappointed at 0.3%, while investors were pointing at 0.6%.
Mataf.net analysts point to resistance at 120.90, 121.85 and 122.75. On the downside, supports might be found at 120.30, 119.75 and 119.25.