The Bank of Japan and UK Retail Sales Put the Yen and the Pound in Focus
It’s a relatively quiet day on the economic calendar. With the Pound back at sub-$1.40 against the Dollar, retail sales figures will need to impress to prevent further downside.
Earlier in the Day:
It was a quiet start to the day on the economic calendar this morning. The Japanese Yen was in focus in the early hours, with the Bank of Japan in action later this morning.
For the Japanese Yen
Inflation figures were in focus this morning.
In May, inflationary pressure returned, with the annual core rate of inflation accelerating from -0.1% to 0.1%, which was in line with forecasts.
The annual rate of inflation picked up from -0.4% to 0.1%.
The Japanese Yen moved from ¥110.273 to ¥110.307 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.08% to ¥110.30 against the U.S Dollar.
Elsewhere
At the time of writing, the Aussie Dollar was down by 0.01% to $0.7551, while the Kiwi Dollar was up by 0.06% to $0.7009.
The Day Ahead
For the EUR
It’s a particularly quiet day ahead on the economic data front. There are no material stats due out of the Eurozone to provide the EUR with direction.
At the time of writing, the EUR was up by 0.01% to $1.1908.
For the Pound
It’s a busier day ahead on the economic calendar.
Retail sales figures for May are due out later this morning. With the BoE in action next week, expect Pound sensitivity to today’s stats.
At the time of writing, the Pound was up by 0.09% to $1.3934.
Across the Pond
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the U.S to provide the Dollar and the broader markets with direction.
A lack of stats will leave FOMC member chatter and any news from Capitol Hill in Focus.
At the time of writing, the Dollar Spot Index was flat at 91.889.
For the Loonie
It’s also a particularly quiet day ahead on the economic data front. There are no material stats due out to provide the Loonie with direction, leaving the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was up by 0.11% to C$1.2345 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
