On Wednesday morning, the US dollar managed to strengthen against major currencies after the block of statistics from Asia. In particular, the figures showed that Japanese exports slowed down in June, gaining just 7.4% on an annualized basis, far less than it was in average expected by market participants. Exports to China, one of the most important trading partners of Japan, rose by 4.8%, after rising by 8.3% in May. In this regard, the US dollar against the Japanese yen is staying around 100.
The Australian inflation data strike out was the next one in line. In spite of expectations the overall CPI increase for second quarter was 2.4% on an annualized basis, instead of 2.5%. On the other hand, the weighted inflation figures used by the RBA, were slightly higher than the market expectations. However, the Australian dollar vs. the US dollar has not been able to overcome the resistance at 0.93 at the beginning of the European session and slipped down to 0.9250. More: http://www.ifcmarkets.com/en/market-overview/show/1468
The Australian inflation data strike out was the next one in line. In spite of expectations the overall CPI increase for second quarter was 2.4% on an annualized basis, instead of 2.5%. On the other hand, the weighted inflation figures used by the RBA, were slightly higher than the market expectations. However, the Australian dollar vs. the US dollar has not been able to overcome the resistance at 0.93 at the beginning of the European session and slipped down to 0.9250. More: http://www.ifcmarkets.com/en/market-overview/show/1468
