We have updated our privacy policy and terms & conditions. Find out more here.
3
 

Forex - Japanese yen, Aussie a tad weaker ahead of data sets in Asia

By Investing.comForexJul 01, 2014 11:08PM GMT Add a Comment
 
AA
+
-
Australian dollar weaker Australian dollar weaker

Investing.com - The Japanese yen and Australian dollar were slightly weaker on Wednesday in early Asian trade with data ahead to set direction.

AUD/USD traded at 0.9492, down 0.04%, while USD/JPY traded at 101.54, up 0.02%.

Japan data is for the outlook on corporate inflation at 0850 Tokyo (2350 GMT).

Then Australia's May trade balance data are then due at 1130 in Sydney (0130 GMT), with a trade deficit of A$120 million expected after the A$122 million
deficit in April.

Overnight, the dollar traded mixed to higher than most major currencies even after a key manufacturing gauge missed expectations, as markets viewed the index as strong enough to suggest the U.S. economy continues to move ahead down its road to recovery.

The Institute for Supply Management reported earlier that its purchasing managers' index fell to 55.3 in June from 55.4 in May. Analysts had expected the manufacturing PMI to increase to 55.8 in June, though the dollar posted gains, as any reading over 50 marks expansion.

Gains were cautious, as the report came in wake of U.S. data released last week showing a 2.9% economic contraction in the first quarter, which fueled expectations that the Federal Reserve will keep rates on hold for an extended period.

Speaking Monday, San Francisco Fed President John Williams underlined this view, saying the bank will probably need to hold interest rates near zero for at least another year to ensure recovery remains on track.

Still, the dollar found support on U.S. data and elsewhere.

China's official purchasing managers' index came in a 51.0 in June, in line with expectations and up from 50.8 in May, which also painted a picture of an improving global economy.

Elsewhere the final reading of the Markit Economic U.S. manufacturing PMI rose to 57.3 in June, the highest reading since May 2010. The report showed the fastest growth in output and new orders since April 2010.

Separately, the Commerce Department said construction spending rose 0.1% in May, below the expected 0.5% increase.

Meanwhile in Europe, revised data revealed that the euro zone’s manufacturing PMI dipped to a seven-month low of 51.8 in June, missing consensus forecasts for a 52.9 reading.

Germany's PMI came in at 52.0, and eight-month low and shy of forecasts for a 52.4 reading.

A separate report showed that the region’s unemployment rate ticked down to 11.6% in May, revised from the initial reading of 11.7%.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was flat at 79.85.

Forex - Japanese yen, Aussie a tad weaker ahead of data sets in Asia
 
AA
+
-

Related Articles

Forex - Kiwi rises against weaker greenback
Forex - Kiwi rises against weaker greenback
By Investing.com - Nov 27, 2014

Investing.com - The New Zealand dollar rose against its U.S. counterpart on Thursday, as demand for the greenback remained under pressure after Wednesday's disappointing U.S. ...

Forex - AUD/USD higher after positive Australian data
Forex - AUD/USD higher after positive Australian data
By Investing.com - Nov 27, 2014

Investing.com - The Australian dollar was higher against its U.S. counterpart on Thursday, after the release of positive Australian data on capital expenditure, while Wednesday's ...

Forex - Dollar slips lower against euro, yen
Forex - Dollar slips lower against euro, yen
By Investing.com - Nov 27, 2014

Investing.com - The dollar was lower against the euro and the yen on Thursday after a series of disappointing U.S. economic reports underlined expectations that rates are likely to...

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

USD/JPY
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg
 
 
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.