EUR/JPY Weekly Analysis (week of 13-17/07)

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Jul. 17, 2020

New 6 weeks high for Euro/Yen at 122.57

(20:00) GMT

Hesitant but green: from an earlier low of 121.91, EUR/JPY up to 122.34 gaining 29 pips compared to the 122.04 start of the day (0.25%).

Uptick comes while some more positive signs for Euro/Yen are out as Euro Zone Consumer Price Index beats expectations of 0.3% with new data release of 0.3%.

Meanwhile, Euro Zone Deposit Facility Rate (Jul) released Thursday 11:45 AM with a figure of -0.50%, while the previous figure was -0.50%. Euro Zone Interest Rate released Thursday 11:45 AM with a figure of 0.00%, while the previous figure was 0.00%. Euro Zone ECB Marginal Lending Facility released Thursday 11:45 AM with a figure of 0.25%, while the previous figure was 0.25%.

With no clear-cut projections the market is looking forward for Ireland Consumer Confidence set for today at 11:01 PM.

Jul. 16, 2020

Euro/Yen hovers around 122.07

(22:00) GMT

A mostly flat day so far for EUR/JPY, ranging between 122.12 and 122.02 and is now at 122.07.

This in-between state for Euro/Yen is reflected by market data published as Euro Zone Deposit Facility Rate (Jul) comes out at -0.50%, while the projection was -0.50%. Euro Zone Interest Rate released today at 11:45 AM with a figure of 0.00%, while the previous figure was 0.00%. Euro Zone ECB Marginal Lending Facility released today at 11:45 AM with a figure of 0.25%, while the previous figure was 0.25%. France Index of Consumer Prices fall short of the -0.1% projections, with 0.1% and continued its downward trajectory from previous figure of 0.2%.

Jul. 15, 2020

Euro/Yen is trading around 122.04 after starting the day at 122.22 (down -0.15%)

(22:00) GMT

EUR/JPY slides down from 122.22 to 122.04, taking a 17 pips loss (-0.15%).

This downslide might be related to financial indicators data published earlier as Germany ZEW Economic Sentiment fall short of the 60.0 projections, with 59.3 and continued its downward trajectory from previous figure of 63.4.

On the flip side, positive data for Euro/Yen released earlier when Euro Zone Industrial Production released earlier shows an improvement to 12.4% from the preceding data of -18.2%, but falls short of the projected 15.0%. Germany German ZEW Current Conditions (Jul) released earlier shows an improvement to -80.9 from the preceding data of -83.1, but falls short of the projected -65.0. New data for Euro Zone ZEW Economic Sentiment was released Tuesday 9:00 AM comes out at 59.6, beating projections of 55.8 and showing improvement over the preceding figure of 58.6.

At the same time, interesting moves noted elsewhere when Euro is trading around 1.14 after starting the session at 1.1308 (up 0.81%).

Jul. 14, 2020

After starting the day at 121.71, Euro/Yen climbs to 122.29 (up 58 pips)

(22:00) GMT

EUR/JPY rallied 58 pips (0.48%) deep into the session trading at 122.29.

Euro/Yen green move comes while some more encouraging signs are out as Euro Zone Industrial Production released earlier shows an improvement to 12.4% from the preceding data of -18.2%, but falls short of the projected 15.0%. Germany German ZEW Current Conditions (Jul) released earlier shows an improvement to -80.9 from the preceding data of -83.1, but falls short of the projected -65.0. New data for Euro Zone ZEW Economic Sentiment was released today at 9:00 AM comes out at 59.6, beating projections of 55.8 and showing improvement over the preceding figure of 58.6.

Despite this, other data released earlier might suggest a different path as Germany ZEW Economic Sentiment fall short of the 60.0 projections, with 59.3 and continued its downward trajectory from previous figure of 63.4.

In the meantime, interesting moves noted when Euro/Dollar is trading around 1.14 after starting the session at 1.1308 (up 0.81%).

Jul. 13, 2020

Euro/Yen is trading around 121.7 after starting the day at 120.84 (up 0.71%)

(22:00) GMT

EUR/JPY rallies 85 pips and maintains at 121.7 level.

Uptick comes while some more positive signs for Euro/Yen are out as Japan Tertiary Industry Activity Index (MoM) released today at 4:30 AM with a figure of -2.1%, this is better from previous number of -7.7%. Germany Wholesale Price Index released today at 6:00 AM with a figure of -3.3%, this is better from previous number of -4.3%. France French 12-Month BTF Auction released today at 1:00 PM with a figure of -0.557%, this is better from previous number of -0.559%.

Despite this, other data released earlier might suggest a different path as Data for Finland Current Account was released today at 5:00 AM suggests a downwards trend with -0.60B, while previous data was -0.30B.

Positive Euro/Yen indicators are expected going forward as Germany German ZEW Current Conditions (Jul) is projected to outperform last figure with -65.0, while it previously stood at -83.1, figure will be published tomorrow at 9:00 AM.