From Japan today we had preliminary data for Q1 GDP. This was very poor data, showing the tenuous nature of Japan’s economic recovery. The annualised q/q came in at -0.7%, its first fall for a year. Exports fell q/q, even as almost every other country on the planet were ramping these higher ahead of US tariffs.
The yen gained after the data, with a strong deflator result, +3.3% y/y. The Deflator in this data is an indicator of inflation. USD/JPY dealt down to circa 145.00. It bounced back from there to highs above 145.40 and is around 145.30 as I post.
News flow was light and of little impact.
The Reserve Bank of New Zealand published the results of its Q2 inflation expectations survey. Both 1- and 2-year inflation expectations rose, helping an already climbing NZD/USD to climb higher. NZD/USD rose from lows around 0.5865 to highs above 0.5900 as I post.
The USD was a little weaker also against EUR, AUD, GBP, CAD.
Gold dropped back to under USD3210.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about forexlive asia pacific fx news wrap yen then kiwi gold was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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