June 10: Asian session
Commodity currencies gained some ground today. Australia and China released a bunch of important data in the session, but the market impact was limited. China May inflation came above the forecast at 2.5%. Australia NAB business confidence rose to 7 in May, the prior reading was also revised from 6 to 7. AUD/USD pushed up to $0.9370 in the Asian session. NZD/USD strengthened to $0.8510, but stays below the recent $0.8555 high. Gold rose above $1250.
USD/JPY slid to 101.27. The pair’s volatility is low ahead of the Bank of Japan’s meeting later this week. Japanese tertiary industry activity fell by 5.4%. Japanese Nikkei 225 is down by 0.8%.
EUR/USD is trading in the $1.3590 area. GBP/USD is trading just above $1.6800.