Asia Summary and Highlights 21 August
All items of Japan CPI Below Target Range
Asia Session
The antipodeans are having a ride on Friday as commodities are performing strongly. Market participants are raising concern on the USD and commodities became one of the largest beneficiaries. AUD/USD is trading 0.39% higher at 0.7142. NZD/USD is trading 0.42% higher while USD/CAD is trading 0.18% lower.
The July National CPI remain capped by stimulus and see all core, core-core CPI below 2%. BoJ will very likely ignore the data point as the real inflationary pressure won't be revealed until the end of Q3. While it does look like underlying inflation to edging closer to target range, private consumption is still sluggish. USD/JPY is unchanged at 159.04. Else, EUR/USD is up 0.12% and GBP/USD is up 0.09%.