In This Article:
Earlier in the Day:
Economic data was on the heavier side through the Asia session this morning. Out of Japan, key stats included May’s job/application ratio, industrial production figures, and Tokyo’s June inflation numbers.
Out of Australia, May private sector credit figures provided the Aussie Dollar with direction.
Ultimately, however, the stats had a muted impact on the pairings. The G20 Summit got underway this morning and there was plenty for the markets to consider going into the weekend.
For the Japanese Yen
May’s job/applications ratio came in at 1.62, marginally lower than April’s 1.63. Tokyo’s annual rate of baseline inflation eased from 1.1% to 0.9%, which was worse than a forecasted 1%.
According to consumer price figures released by the Ministry of Internal Affairs and Communication,
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Prices for transportation and communication fell by 1.4%, weighing on core inflation.
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A 3.6% jump in charges for fuel, light and water and a 2.4% rise in prices for furniture and household utensils provided support.
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There were also price increases for culture and recreation (+1.6%), clothes and footwear (+0.8%), housing (+0.7%), and education (+0.7%).
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Prices for Medical Care rose by just 0.6%.
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By sector, prices for goods rose by 1.6%, whilst prices for services increased by just 0.7%.
The Japanese Yen moved from ¥107.729 to ¥107.728 upon release of the figures, which preceded the industrial production numbers.
Industrial production rose by 2.3% in May, month-on-month, according to prelim figures. Forecasts were for a 0.2% rise off the back of a 0.6% increase in April.
According to prelim figures released by the Ministry of Economy, Trade, and Industry,
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Industries that mainly contributed to an increase were:
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Motor vehicles
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Electrical machinery and information and communication electronics equipment.
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Production machinery.
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Industries that mainly contributed to a decrease were:
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Transport equipment (excl. motor vehicles).
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Other manufacturing.
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The Japanese Yen moved from ¥107.04 to ¥107.748 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.09% to ¥107.69 against the U.S Dollar.
For the Aussie Dollar
Private sector credit rose by 0.2% in May, month-on-month, following a 0.2% increase in April. Economists had forecast for a 0.2% increase in May
According to figures released by RBA,
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Personal credit fell by 0.6%, following a 0.3% fall in April.
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Housing credit rose by 0.2%, following a 0.3% rise in April.
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Business credit rose by 0.1%, after stalling in April.
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Year-on-year, total credit increased by 3.6%, compared with 4.8% in May 2018.
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Housing credit slid by 3.2%, year-on-year. In May 2018, housing credit had fallen by 1.4%.