Forex news for Asia trading Friday 31 July 2015

Data - Japan CPI the focus but NZ business confidence shocks

And ...

Little sign of month end madness on a relatively subdued day.

EUR/USD has had a small move higher, not a lot in it ... adding 20 points or so since late NY with little in the way of news flow. Cable had some minor movement, dipping toward 1.5590 and tracking back to be testing around 1.5610 as I update. USD/CHF mirrored EUR/USD, trading lower over the course of the session and off around 25 or so points since late NY.

USD/JPY tracked sideways for the opening hours, then dropped 15 or so points to under 124 after the data releases (see bullets, above). It has since stabilized around 124.00 and is just under the figure as I update. EUR/JPY is barely changed on the session.

NZD was a sharp mover, much lower against the USD and AUD after July business confidence sank to a 6 year low (from a 4 year low the previous month). It tested down to 0.6570 and has held there as I write ... but going into the weekend it looks a little vulnerable. AUD/USD is around 15 points higher from late US levels. Higher housing investment credit a contributor to the small gain on the session.

Oil continued its trickle lower on the session, gold ditto. Chinese stocks were off, too.

Since its Friday ...

And, finally, coming up over the weekend - Economic data due from China - PMIs