EUR/JPY HITS FIFTEEN-YEAR HIGH, 164.00 ON DECK
- The EUR/JPY is trading into its highest bids since 2008, inches away from 164.00.
- A rebound in broad market sentiment is sending safe havens firmly lower on Tuesday.
- Up Next: Japan GDP in early Wednesday session.
The EUR/JPY has hit its highest prices since 2008, a fifteen-year high for the pair as the safe haven Japanese Yen (JPY) falls back against the Euro (EUR). A broad market recovery in risk appetite fueled by a worse-than-expected US Consumer Price Index (CPI) printing is giving investors renewed hopes that inflation could be receding faster than the Federal Reserve (Fed) expects, meaning the US central bank could be pushed towards rate cuts sooner than expected.
Pan-EU Gross Domestic Product (GDP) printed exactly as expected early Tuesday, with the quarter-on-quarter figure coming in at -0.1%. The annualized number printed steady at 0.1%.
The ZEW Economic Sentiment Survey for November improved appreciably, printing at 13.8 against October's 2.3.
The early Wednesday trading session sees Japanese GDP figures, and the QoQ figure is expected to decline from 1.2% to a -0.1% contraction
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