The EUR/JPY cross attracts some buyers during the early European session on Friday. Market players await the German Factory Orders for August for fres
EUR/JPY gains momentum near 156.85 ahead of the German data. Germany’s trade surplus came in at €16.6B in August vs. €17.7B prior, above the market expectation. Japan’s Coincident Index for August came in at 114.3 vs. 114.2 prior; Leading Economic Index improved to 109.5 vs.108.2 prior. Traders will monitor the German Factory Orders due later on Friday. h impetus. The monthly figure is expected to rise 1.8% from an 11.7% fall in the previous reading. The major pair currently trades near 156.
Suzuki noted that there are various factors to consider when determining if currency fluctuations are excessive, and there would be no change in how the government handles them. That said, the potential intervention by the Japanese authorities to support JPY might act as a headwind for the EUR/JPY cross. The latest data on Friday showed that the Japanese preliminary Coincident Index for August came in at 114.3 versus 114.2 prior whereas the Leading Economic Index improved to 109.5 versus 108.
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