USD/JPY has posted considerable gains on Tuesday, as the pair trades at 110.60 in the North American session. On the release front, Japanese SPPI remained at 0.8%, edging above the agreement of 0.7%. Over in the US, we’ll get a look at two key events. CB Consumer Confidence is expected to improve to 123.7, while New Home Sales is forecast to edge lower to 590 thousand.
Japanese SPPI, which measures inflation in the corporate sector, posted a solid reading of 0.8%, but other inflation indicators haven’t kept pace. We’ll get a look at more inflation numbers, highlighted by Tokyo Core CPI, the primary gauge of consumer inflation has posted a steady stream of declines, and a decline of 0.2% is expected in the April reading. If the indicator misses expectations, the yen could lose more ground.
Japanese SPPI, which measures inflation in the corporate sector, posted a solid reading of 0.8%, but other inflation indicators haven’t kept pace. We’ll get a look at more inflation numbers, highlighted by Tokyo Core CPI, the primary gauge of consumer inflation has posted a steady stream of declines, and a decline of 0.2% is expected in the April reading. If the indicator misses expectations, the yen could lose more ground.