The forex trading headlines for Asia trading today, Friday July 26

Japan inflation figures released today:

  • Japan National CPI y/y for June: +0.2% , expected +0.1%, prior -0.3%
  • Japan National CPI Ex-Fresh Food y/y for June: +0.4% expected at +0.3%, prior 0.0%
  • Japan National CPI Ex Food, & Energy y/y for June: -0.2%, expected -0.3%, prior -0.4%
  • Tokyo CPI y/y for July (note, Tokyo CPI figures are available earlier than national CPI figures): +0.4% , expected 0.2%, prior -0.0%
  • Tokyo CPI Ex-Fresh Food y/y for July: +0.3% expected 0.3%, prior 0.2%
  • Tokyo CPI Excluding Food & Energy y/y for July: -0.4% , expected-0.3%, prior -0.4%
  • More on Japan’s CPI release – signs of the retreat of deflation?

Followed by a barrage of comments from Japanese authorities (more comments at each link):

Other news/comments:

After the USD sell-off in Europe and the US overnight it was a day of consolidation (and early, boozy lunches) in Asia today. EUR/USD and GBP/USD both approached their highs, as did AUD/USD and NZD/USD. All four of them backed away though, none managing a move to new highs as of writing.

USD/CHF and USD/JPY approached their lows, USD/CHF failed to break them but USD/JPY carried the flag, putting in lower lows from overnight. Earlier, USD/JPY had plunged below 99 in late North American trading, finding support just below 99.00 and bouncing back to 99.35/40. It chopped in a range 10/40 before falling to the already mentioned new lows for the session. CPI figures and the barrage of comments (see bullets above) only being met with more yen buying through the day.