USD/JPY edges down for first session in five
USD/JPY tilted lower in Asian trade off September 15 following earlier Japanese data and ahead of US data today.
As of 07:11 GMT, USD/JPY fell 0.09% to 105.31, with a week high at 105.54.
Earlier Japanese data showed services prices rose 0.1%, slowing down from 1.1% in July.
From the US, durable goods orders are expected up 1.1%, slowing down from 11.4% in July, while core orders are expected up 1%.
Federal Reserve Bank of New York President John Williams will speak about the COVID-19 job market at a webinar hosted by the University of Rochester.
Chicago Fed President Charles Evans said that the US economic crisis is worse than it appears in the economic data, while other Federal Reserve's members expressed that the economy would recover from the pandemic by the end of this year.
White House Chief Health Advisor Anthony Fauci expressed that an effective vaccine is being developed, adding that the US would have the vaccine by next November or December.
At his Congressional testimony, Fed Chair Jerome Powell said over $195 billion of aid was given away to counter the Covid 19 impact.
He called on Congress to issue further stimulus to help families and small and medium companies as recession continues to haunt the economy.
US President Donald Trump has refused to commit to a peaceful transfer of power in case his opponent Joe Biden won the presidential elections in November.
USD/JPY tilted lower in Asian trade off September 15 highs amid a lack of data from Japan and the US, while Federal Reserve Bank of Cleveland President Loretta Mester speaks later today. As of 06:56 GMT, USD/JPY fell 0.28% to 105.28, with an intraday low at 105.27. Federal Reserve Bank of Cleveland President Loretta Mester is due to speak about economic equality at a webinar hosted by the African American Chamber of Commerce of Western Pennsylvania. In a few days, US GDP data will show an astounding 31.7% contraction in the second quarter, the same as the initial reading. Also US private sector employment is expected to show an addition of 650 thousand new jobs in September, with the official report releasing on Friday.
The New Zealand dollar fell against most of its peers on Monday, weighed down by concerns over a second wave of coronavirus infections. Banking and financial stocks in most global markets came under pressure amid expectations for some countries to reinstate another public lockdown. Protests took place in France and the UK due due to government plans to re-impose lockdown restrictions, especially after British Prime Minister Boris Johnson told Parliament that his government was considering more strict lockdown. The coronavirus death toll is now close to 1 million victims globally, and infections rose to 31 million cases. Otherwise, New Zealand's credit card spending index fell 11.9% in August vs. a drop by 5% in June. As of 18:00 GMT, NZD/USD fell 1.5% to 0.6661, after hitting a day high of 0.6778 and a low of 0.6652.
At 12:30 GMT, the Canadian economy released its reading for the retail sales index, which fell by 0.4% in August, worse than forecasts of 1%, while the index rose by 0.6% in July. This data is considered negative for the Canadian dollar.