Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Japanese yen flat in early Asia ahead of CSPI data

Published 05/26/2014, 07:21 PM
Updated 05/26/2014, 07:23 PM
Yen flat in Asia

Yen flat in Asia

Investing.com - The Japanese yen was flat in early trade on Tuesday following closed markets in the U.S. and ahead of minor data.

Japan's April CSPI is due at 0850 Tokyo time (2350 GMT) with a 3.3% gain expected.

USD/JPY traded flat at 101.93, while AUD/USD showed some life at 0.9246, up 0.10%.

Overnight, the dollar slid lower against a basket of other major currencies on Monday as trade volumes remained light with U.S. markets closed for the Memorial Day holiday and financial markets in the U.K. also shut for a public holiday.

The euro fell to three month lows against the dollar earlier Monday after anti-European Union and far-right parties performed strongly in European Parliament elections in some countries over the weekend.

The pair showed little reaction after European Central Bank President Mario Draghi said Monday the bank saw a risk of a deflationary cycle taking hold in the euro zone, the latest indication that it could ease monetary policy at its upcoming meeting next week.

"What we need to be particularly watchful for at the moment is the potential for a negative spiral to take hold between low inflation, falling inflation expectations and credit, in particular in stressed countries," Draghi said.

EUR/USD held flat at 1.3645.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, slid 0.10% to 80.34.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.