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Forex - Yen up ahead of jobs data, Australia retail sales due

Published 10/01/2015, 07:04 PM
Updated 10/01/2015, 07:07 PM
Yen up slightly ahead of jobs data

Investing.com - The yen was up slightly in early Asian trade on Friday in thinned trading with data sets from Japan and Australia.

USD/JPY changed hands at 119.86, down 0.05%, while AUD/USD traded at 0.7037, up 0.10%.

China's markets are closed for the National Day holidays and will re-open on Oct. 8.

In Japan comes the August unemployment rate and household spending data at 0830 Tokyo time (2330 GMT). The forecast for unemployment is 3.3%, unchanged from July, while the forecast for household spending is a gain of 0.4% on year in real terms, the first rise in three months.

Then, at 0850 (2350 GMT), the BoJ's September corporate inflation outlook followed by the afternoon release of the bank's quarterly survey on consumer confidence, inflation expectations at 1330 (0430 GMT).

In Australia the August retail sales report due at 1130 Sydney time (0130 GMT). Retail sales for August are expected to show a 0.4% month-on-month rise.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.06% to 96.29.

Overnight, the dollar slipped lower against against the other major currencies on Thursday, after data showed that manufacturing activity in the U.S. slowed again in September and that jobless claims rose more than expected last week.

The Institute for Supply Management said its index of purchasing managers fell to 50.2 last month from a reading of 51.1 in August. Analysts had expected a more modest decline to 50.6.

Earlier Thursday, the U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending September 26 increased by 10,000 to 277,000 from the previous week’s total of 267,000, compared to expectations for a 3,000 rise.

Investors were turning their attention to Friday’s U.S. jobs report for September, which could help to provide clarity on the likelihood of a near-term interest rate hike by the Federal Reserve.

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