Forex - Yen gains ahead of prices survey, Aussie up before trade data

Investing.com - The yen and Aussie were barely changed against the dollar on Thursday in Asia with data sets on trade in Sydney and inflation expectations in Tokyo ahead.

AUD/USD traded at 0.7600, up 0.03%, while USD/JPY changed hands at 119.67, down 0.07%.

In Australia, the March TD-MI Inflation Gauge due at 1030 Sydney time (2330 GMT) and will include the forecast for first quarter inflation. At 1130 (0030 GMT), the February trade balance data is due with a forecast of a deficit of A$1.3 billion versus a deficit of A$980 million in January.

In Japan, the BoJ's corporate inflation outlook in the Tankan are due at 0850 Japan time. Firms on average expected a 1.4% rise in CPI in the coming year, down slightly from 1.5% in the previous survey.

Then at 1330 (0430 GMT) the BoJ quarterly survey on consumer sentiment and inflation expectations are due. The previous survey showed that the share of the respondents who forecast Japanese prices would rise in the next year slipped to 80.8% in December from 82.5% in September.

Overnight, the dollar remained broadly lower against a basket of other major currencies on Wednesday, after data showed that manufacturing activity in the U.S. expanded at the slowest pace in 14 months in March and that U.S. non-farm private employment rose less than expected.

The Institute for Supply Management said on Wednesday that its index of purchasing managers fell to 51.5 last month from a reading of 52.9 in February. Analysts had expected the manufacturing PMI to decline to 52.5 in March.

Earlier Wednesday, payroll processing firm ADP reported that non-farm private employment rose by 189,000 last month, below expectations for an increase of 225,000. The economy created 214,000 jobs in February, whose figure was upwardly revised from a previously reported 212,000.

Investors turned their attention to the upcoming U.S. jobs report due out on Friday, which was expected to support expectations for higher interest rates.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted at 98.51, down 0.02% in early Asia.