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AUSTRALIA GDP RISES 0.2% IN Q2



Australia's gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the first quarter of 2023, the Australian Bureau of Statistics said on Wednesday.

That missed expectations for an increase of 0.8 percent and was down from 0.5 percent in the previous three months.

On an annualized basis, GDP was up 2.3 percent - again missing forecasts for a gain of 2,7 percent, which would have been steady from the three months prior.

Capital expenditure was up 1.8 percent on quarter, exceeding expectations for a decline of 5.6 percent following the 1.4 percent contraction in the previous quarter.

The GDP chain price index was up 1.8 percent on quarter, while final consumption rose 0.2 percent.

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JAPAN OVERALL BANK LENDING RISES 3.4% ON YEAR IN MAY



Overall bank lending in Japan was up 3.4 percent on year in May, the Bank of Japan said on Thursday - coming in at 602.335 trillion yen.

That exceeded expectations for an increase of 3.1 percent and was up from 3.2 percent in April.

Excluding trusts, lending climbed an annual 3.8 percent to 525.376 trillion yen - accelerating from 3.5 percent in the previous month.

Lending from trusts rose 1.1 percent on year to 76.959 trillion yen, steady from the previous month.

Lending from foreign banks spiked an annual 8.7 percent to 3.729 trillion yen, up from 8.1 percent a month earlier.

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CHINA INFLATION RISES 0.2% ON YEAR IN MAY



Consumer prices in China were up 0.2 percent on year in May, the National Bureau of Statistics said on Friday.

That was shy of expectations for an increase of 0.4 percent following the 0.1 percent increase in the previous month.

On a monthly basis, consumer prices fell 0.2 percent, missing expectations for a decline of 0.1 percent - which would have been unchanged from the April reading.

The NBS also said that producer prices dropped 4.6 percent on year, missing expectations for a decline of 4.0 percent following the 3.6 percent fall a month earlier.

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U.S. DOLLAR RISES AGAINST MAJORS



The U.S. dollar strengthened against other major currencies in the Asian session on Monday.

The U.S. dollar rose to 4-day highs of 1.0733 against the euro and 0.9044 against the Swiss franc, from last week's closing quotes of 1.0748 and 0.9031, respectively.

Against the pound and the yen, the greenback advanced to 1.2564 and 139.65 from Friday's closing quotes of 1.2577 and 139.35, respectively.

If the greenback extends its uptrend, it is likely to find resistance around 1.05 against the euro, 0.92 against the franc, 1.21 against the pound and 142.00 against the yen.

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NZ DOLLAR FALLS AGAINST MAJORS



The New Zealand dollar weakened against other major currencies in the Asian session on Tuesday.

The NZ dollar fell to nearly a 4-month low of 1.1049 against the Australian dollar, from yesterday's closing value of 1.1021.

Against the yen and the euro, the kiwi dropped to 4-day lows of 85.16 and 1.7641 from yesterday's closing quotes of 85.49 and 1.7565, respectively.

The kiwi edged down to 1.6106 against the U.S. dollar, from yesterday's closing value of 1.6121.

If the kiwi extends its downtrend, it is likely to find support around 1.11 against the aussie, 82.00 against the yen, 1.80 against the euro and 0.58 against the greenback.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE



Monthly GDP data from the UK and industrial output from the euro area are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK monthly GDP, industrial output and foreign trade data. Gross domestic product is forecast to grow 0.2 percent on a monthly basis in April, reversing a 0.3 percent fall in March.

The UK visible trade deficit is expected to widen to GBP 16.5 billion in April from GBP 16.36 billion in March. In the meantime, Destatis is scheduled to publish Germany's wholesale prices for May. Wholesale prices are forecast to fall 3.3 percent annually, sharper than the 0.5 percent decrease in April.

Also, Statistics Sweden issues consumer price data for May. Economists forecast inflation to slow to 9.4 percent from 10.5 percent in April.

At 5.00 am ET, Eurozone industrial production data is due. Economists expect output to grow 1.0 percent on month in April, in contrast to the 4.1 percent fall in March.

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JAPAN HAS Y1,372.5 BILLION TRADE DEFICIT IN MAY



Japan posted a seasonally adjusted merchandise trade deficit of 1,362.5 billion yen in May, the Ministry of Finance said on Thursday.

That missed expectations for a shortfall of 1,331.9 billion following the 432.3 billion yen deficit in April.

Exports were up 0.6 percent on year to 7,292.6 billion yen, exceeding forecasts for a 0.8 percent decline following the 2.6 percent gain in the previous month.

Imports dropped an annual 9.9 percent to 8,665.1 billion yen versus expectations for a decline of 10.3 percent after slipping 2.3 percent a month earlier.

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YEN FALLS AFTER BOJ RATE DECISION



At 10:47 pm ET in the early Asian session on Friday, the Bank of Japan announced its announce its decision on interest rates.

After the data, the yen fell against its major rivals.

As of 10.50 pm ET, the yen was trading at 153.85 against the euro, 179.66 against the pound, 157.64 against the Swiss franc and 140.67 against the U.S. dollar.

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AUSTRALIAN DOLLAR FALLS AGAINST MAJORS



The Australian dollar weakened against other major currencies in the Asian session on Monday.

The Australian dollar fell to a 10-day low of 1.6003 against the euro, from Friday's closing value of 1.5902.

Against the U.S., the Canada and the New Zealand dollars, the aussie dropped to 4-day lows of 0.6834, 0.9040 and 1.1008 from last week's closing quotes of 0.6873, 0.9065 and 1.1019, respectively.

The aussie edged down to 96.73 against the yen, from more than a 9-month high of 97.67.

If the aussie extends its downtrend, it is likely to find support around 1.63 against the euro, 0.66 against the greenback, 0.89 against the loonie, 1.06 against the kiwi and 94.00 against the yen.

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