Forex - Aussie up in early Asia with focus on China prices

Investing.com - The Aussie gained in early Asia on Friday with China prices in focus later in the day.

AUD/USD traded at 0.7712, up 0.27%, while USD/JPY changed hands at 120.51, down 0.06%. EUR/USD was up 0.11% at 1.0670.

Australia housing finance data for February at 1130 Sydney time (0130 GMT) with a 3.0% month-on-month rise expected.

In Japan, bank lending data for March showed a 2.7% gain year-on-year.

Ahead in China, the March CPI and PPI data are due at 0930 local time (0130 GMT). CPI is expected to to ease to 1.3% from February's surprise +1.4% year-on-year and producer prices are seen down 4.8%, a 37th straight monthly drop.

Overnight, Greece fulfilled an obligation to repay a EUR 450 million loan to the International Monetary Fund on Thursday, but the euro continued its descent against the dollar as IMF head Christine Lagarde sidestepped questions on whether she believes Athens will default on its next series of payments.

Speaking with CNBC on Thursday afternoon, Lagarde did not say definitively if she thinks Greece will default on a repayment of more than EUR 769 early next month. The loan is due to the international financial organization on May 11, as part of its first bailout program for Greece in 2010.

Greece is continuing talks with its troika of creditors, the IMF, the European Central Bank (ECB) and the European Commission in an effort to receive a stimulus package that could help the beleaguered European nation stave off bankruptcy.

"I think what really matters is for the Greek authorities and the three institutions to get to work and to really see together how we can identify the measures we will take to get Greece out of the bad economic situation it could be in if those measures are not taken," Lagarde told CNBC. "At the end of the day it's about making sure Greece has full sovereignty over its economic fate."

While Lagarde warned against the consequences of a potential Greek departure from the European Union, she reiterated that the area is better shape to guard against a default than it was during the IMF's initial bailout.

"I think it would be a terrible situation for the Greek people, equally I think that the firewalls, the banking union and the strengthened fiscal union have put the euro zone in a much stronger position than where it was four years ago."

Also on Thursday, the Bloomberg Consumer Comfort Index rose from 46.2 to 47.9 last week, the highest level since May, 2007.