Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Yen gains on solid jobs, household spending data

Published 07/27/2017, 07:36 PM
Updated 07/27/2017, 07:36 PM
Yen up in Asia

Yen up in Asia

Investing.com - The yen gained in Japan on Friday with data supporting the currency on consumer prices and unemployment.

USD/JPY changed hands at 111.12, down 0.12%, while AUD/USD traded at 0.7970, down 0.04%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.51% to 93.73.

In Japan, household spending jumped 2.3 in June month-on-month, compared to a 0.6% rise seen, seen while it rose 1.5% at an annual pace compared to a gain of 0.6% expected. The unemployment rate dipped to 2.8% from 3.1% in May.

Ahead, Japan reports retail sales with a 2.3% increase seen for June on year. National CPI rose 0.4% as expected on year in June and national core CPI gained 0.2%, beating a 0.1% increase seen.

Overnight, the dollar traded higher against a basket of global currencies on Thursday, despite a mixed bag of economic data pointing to potential headwinds in the U.S. labor market.

Better-than-expected durable goods orders data for June offset initial jobless claims data that undershot expectations, pushing the dollar off 14-month lows sustained in the prior session.

The U.S. Department of Labor reported Thursday that initial jobless claims rose by more than expected to 244,000 in the week ended July 23, missing forecasts of a 7,000 decline.

In a separate report, core durable goods orders rose by 6.5% in June, the Commerce Department said Thursday, reflecting a sharp jump in orders for transportation equipment.

The dollar had fallen to 14-month lows in the prior session, following the Federal Reserve’s decision to keep its benchmark rate unchanged amid jitters among Fed members about the slowdown inflation.

The sharp rebound in the dollar weighed on the pound and euro, as both currencies pared recent gains.

GBP/USD fell a day after provisional economic growth data, measured by gross domestic product (GDP), met economists forecast. UK GDP is estimated to have increased by 0.3% in the second-quarter, an improvement from the first-quarter, the Office of National Statistics said Wednesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.