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The US dollar fluctuated in a slightly bullish range during the Asian session against the Japanese yen following developments and economic data that followed Wednesday on the Japanese economy and at the brink of inflationary data from the US. US economy, the world's largest economy.
At 6:04 GMT, the pair rose 0.06% to 111.07 from the opening level at 111.00 after recording a high of 111.14, at 110.77.
The Japanese economy is experiencing a fundamental reading of machinery orders, down 3.7% from a rise of 10.1% last April, compared with a 5.2% decline expected, while that the annual reading of the same index accelerates 16.5% against 9.6% during the reading of previous April, exceeding expectations by 10.9%.
This came in conjunction with the June reading of the Local Merchandise Price Index showing that growth slowed to 0.2% in line with expectations versus 0.6% in May, while the annual reading of the same index showed accelerated growth to 2.8% In line with expectations of 2.7%, industrial sector data for the third sector declined from 0.1% in April to 0.1%, against a decrease of 0.4%.
On the other hand, markets are currently waiting for the US economy to release the Producer Price Index (PPI) for May, which is a preliminary index of inflationary pressures, which could reflect a slowdown in growth to 0.5% in April. The base reading of the same index may show a slower growth rate of 0.2% vs. 0.3%, before the final reading of the wholesale stocks for the month, which could reflect a stability of 0.5% .
Investors also turn to US Federal Reserve Chairman Rafael Postk and Federal Reserve Bank Chairman John Williams to look into the issue. GMT 30 hours at the Virginia Society of Certified Public Accountants about four hours before Williams spoke about the local economy at the Brooklyn City Hall.
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