- Nikkei closed 0.08% lower today
- BOJ Governor Kuroda admitted that sales tax hike is causing economic fluctuations
- German PPI and euro zone current account balance due
- U.K. public sector net borrowing at 11.8 billion GBP?
It’s all about the ranges among the dollar pairs in today’s Asian trading session, as the lack of top-tier data releases kept the majors moving sideways. GBP/USD climbed steadily to the 1.7050 minor psychological level and held on while EUR/USD reached a high of 1.3632 before retreating. USD/CHF is taking a break from its recent volatile run and is stalling around .8930.
New Zealand reported a 5.2% decline in ANZ job advertisements for May, erasing the previous 2.1% gain seen in the previous month. This marks the report’s first negative reading in five months, suggesting that hiring might slow down sooner or later. Although this marked the steepest decline in job ads since 2010, NZD/USD managed to keep its head above the .8700 handle.
Currency crosses had a bit more action going on, with euro pairs chalking up roughly 0.10% in gains over the past few hours. USD/JPY tossed and turned below the 102.00 handle while other yen pairs sat tight ahead of BOJ Governor Kuroda’s speech, during which the central bank head admitted that the recent sales tax hike is starting to cause economic fluctuations.
The upcoming trading session could also prove to be a quiet one, as only medium-tier reports are due. The euro zone is set to print its current account balance and German PPI, both of which are expected to show improved results compared to the previous month’s data. Meanwhile, public sector net borrowing figures are due from the U.K. and a smaller than expected deficit might lead to more pound strength.
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