As the G-20 meeting draws closer, investors generally prefer a wait-and-see attitude. However, during the Asian session, the attention of traders focused on Japanese statistics on the ratio of jobs and the number of unemployment applications for the past month, as well as data on industrial production and inflation rates for June.
In Australia, data on private sector loans in May gave the
Australian dollar the direction for further movement.
Ultimately, however, the statistics released had a subdued effect on the Asian currencies. The G20 summit began this morning and it is it that attracts the attention of the markets.
The ratio of jobs in Japan in May was 1.62, which is slightly lower than in April 1.63. The annual level of core inflation fell from 1.1% to 0.9%, which turned out to be worse than the forecast level of 1%.
According to consumer price data released by the Ministry of Internal Affairs and Communications of Japan, prices for transport and communications fell by 1.4%, which affected core inflation.
The cost of fuel, light, and water rose by 3.6%. Also, prices for culture and recreation rose by 1.6%, same for clothing and footwear (+ 0.8%), housing (+ 0.7%) and education (+ 0.7%).
Prices for medical services rose by only 0.6%.
By sector, prices for goods rose by 1.6%, while prices for services rose by only 0.7%.
According to preliminary data, the level of industrial production in Japan in May increased by 2.3% compared with the previous month. Forecasts were 0.2% more than 0.6% in April.
The
Japanese yen went from 107.040 yen to 107.748 after the data was published. At the time of this writing, the Japanese currency rose 0.09% to 107.69 yen against the
US dollar.
In Australia, private sector lending increased by 0.2% in May compared with the previous month after a 0.2% increase in April, which coincided with analysts' forecasts.
The Australian dollar fell from 0.70048 to 0.70006 after the data publication. At the time of this writing, AUD has fallen by 0.12% to $ 0.6999.
The rate of the
single European currency today may be affected by preliminary inflation data for June in France, Italy and the eurozone as a whole. French consumer spending and GDP figures for Spain in the 1st quarter are also being prepared for release.
At the time of this writing, the euro fell 0.02% to $ 1.1367 USD.
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