Forex - Aussie gains slightly in early Asia with minutes ahead

Investing.com - The edged higher in Asia on Tuesday with central bank minutes ahead in an otherwise light data day with North Korea however still a potential potent factor on sentiment.

Later the Reserve Bank of Australia will release the of its August meeting and held at a record low 1.50%.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.38% to 93.34.

Overnight, the dollar remained broadly higher against the other major currencies in subdued trade on Monday, as markets continued to digest Friday’s U.S. inflation data and as geopolitical tensions between the U.S. and North Korea seemed to die down.

Trading was expected to remain quiet with no major U.S. economic reports set to be released throughout the day.

The greenback recovered from losses posted on Friday after the U.S. Commerce Department said consumer prices rose less-than-expected last month. A separate report released a day earlier showed that producer price inflation and its core reading both unexpectedly declined in July.

The weak data was seen as lowering chances that the Federal Reserve will stick to its plans for a third interest rate hike this year.

Demand for the safe-haven yen and eased after U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson both wrote that the U.S. administration would continue to seek diplomatic resolutions with Pyongyang.

In a commentary published in the Wall Street Journal on Sunday, the two men said that "the U.S. has no interest in regime change or accelerated reunification of Korea."

Chinese President Xi Jinping on Saturday called for a peaceful resolution to the North Korean nuclear issue, and urged all sides to avoid words or action that raise tensions.

In Japan, data on Monday showed that the country’s economy grew by 1.0% in the second quarter or 4.0% in annualized terms, which was higher than the 2.5% expected.

The single currency came under pressure after data earlier showed that industrial production in the euro zone fell 0.6% in June, more than the expected 0.5% slip.

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex - Aussie gains slightly in early Asia with minutes ahead : http://ift.tt/2vytGeI

Let's block ads! (Why?)