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Yen, Kiwi Underperform In Quiet Early Trade

FOREX

The yen and kiwi lead losses in a mixed start to the Asia-Pac session, correcting their upswings from Wednesday. The yen has been unfazed by a thinner than expected trade deficit reported by Japan and a downtick in U.S. e-mini futures.

  • New Zealand's trade data was also published this morning. Monthly trade balance flipped into a deficit of NZ$701mn in June from a surplus of NZ$263 recorded in May.
  • Most major currency pairs have been happy to hug tight ranges so far, with latest headline flow offering little to rock the boat.
  • Central bank activity picks up today, with the BoJ and ECB preparing to announce their monetary policy decisions. In the EM space, rate reviews are due in Indonesia, Turkey and South Africa.
  • The sole data highlight during the remainder of the Asia-Pac session is Australian NAB Business Confidence. After hours, focus will turn to U.S. initial jobless claims & Philadelphia Fed Business Outlook.
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The yen and kiwi lead losses in a mixed start to the Asia-Pac session, correcting their upswings from Wednesday. The yen has been unfazed by a thinner than expected trade deficit reported by Japan and a downtick in U.S. e-mini futures.

  • New Zealand's trade data was also published this morning. Monthly trade balance flipped into a deficit of NZ$701mn in June from a surplus of NZ$263 recorded in May.
  • Most major currency pairs have been happy to hug tight ranges so far, with latest headline flow offering little to rock the boat.
  • Central bank activity picks up today, with the BoJ and ECB preparing to announce their monetary policy decisions. In the EM space, rate reviews are due in Indonesia, Turkey and South Africa.
  • The sole data highlight during the remainder of the Asia-Pac session is Australian NAB Business Confidence. After hours, focus will turn to U.S. initial jobless claims & Philadelphia Fed Business Outlook.