The next major event coming up during today’s New York session will be US GDP, which has the potential to move the dollar across the board.
The Asia-Pacific session saw inflation data from Japan. Tokyo-area CPI Ex-Food & Energy for May printed at 0.5% y/y, below expectations and prior of 0.6%, and was flat for the m/m reading. Nationwide CPI Ex-Food & Energy for April printed at 0.7% y/y, in line with prior and expectations, and rose 0.3% m/m. The BoJ’s measure of core inflation, which also excludes food and energy, dropped to 0.9% from a prior of 1.1% y/y and missing estimates of 1.0%. This increases chances of further BoJ easing in June. USDJPY remains in a 45-pip range on the session as yet another month passes in Japan where core inflation has failed to rise sufficiently.
US GDP was also covered in this week’s weekly risk event video here.
Source:: US GDP | Current Sentiment