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EUR/JPY trades steady as mixed Eurozone data, hawkish BoJ minutes offset

  • Eurozone Retail Sales show mixed results in September, with a 1% annual rise but a 0.1% monthly drop.
  • Bank of Japan minutes confirm a more hawkish bias, supporting the Japanese Yen.
  • The Euro remains supported by steady economic data, while the pair trades without clear direction.

EUR/JPY trades without a clear trend on Thursday, hovering around 177.00, virtually unchanged on the day. The pair remains stable after the release of mixed data from both the Eurozone and Japan, maintaining a fragile balance between the two currencies.

According to Eurostat, Eurozone Retail Sales increased by 1% YoY in September, following a revised 1.6% rise in August, matching expectations. On a monthly basis, sales fell by 0.1%, disappointing forecasts that had called for a modest gain. These figures confirm that consumption remains moderate but resilient in the bloc, while the HCOB Services PMI, released on Wednesday, climbed to 53.0 in October, its highest level since June, indicating a gradual improvement in activity.

The Eurozone’s macroeconomic backdrop remains characterized by the cautious stance of the European Central Bank (ECB), which kept its deposit rate unchanged at 2.0% at its October meeting. President Christine Lagarde emphasized that inflation remains stable while growth uncertainty persists, reinforcing expectations of a prolonged monetary pause.

In Japan, minutes from the Bank of Japan’s (BoJ) September meeting reaffirmed that a majority of policymakers see conditions falling into place for a gradual interest rate hike. Governor Kazuo Ueda’s remarks, stressing the importance of sustained wage growth in guiding normalization, reinforced these expectations. Meanwhile, Labor Cash Earnings rose 1.9% YoY in September, supporting the prospect of a cautious tightening path.

Investors remain alert to potential verbal or direct intervention from Japanese authorities to curb excessive currency volatility. This perspective currently limits large moves in the cross, which continues to trade in a consolidation zone while awaiting fresh macroeconomic catalysts.

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD-0.23%-0.25%-0.23%-0.08%-0.10%0.06%-0.11%
EUR0.23%-0.02%0.00%0.15%0.12%0.29%0.12%
GBP0.25%0.02%0.02%0.18%0.15%0.32%0.14%
JPY0.23%0.00%-0.02%0.16%0.13%0.27%0.13%
CAD0.08%-0.15%-0.18%-0.16%-0.01%0.13%-0.03%
AUD0.10%-0.12%-0.15%-0.13%0.01%0.17%-0.00%
NZD-0.06%-0.29%-0.32%-0.27%-0.13%-0.17%-0.17%
CHF0.11%-0.12%-0.14%-0.13%0.03%0.00%0.17%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Ghiles Guezout

Ghiles Guezout is a Market Analyst with a strong background in stock market investments, trading, and cryptocurrencies. He combines fundamental and technical analysis skills to identify market opportunities.

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