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Malaysia GDP Data Due On Friday
(RTTNews) - Malaysia will on Friday release preliminary Q2 numbers for gross domestic product, highlighting a light day for Asia-Pacific economic activity. In the first quarter, GDP was up 4.4 percent on year.
Malaysia also will see June figures for imports, exports and trade balance; in May, imports rose 6.6 percent on year and exports were down an annual 1.1 percent for a trade surplus of MYR0.80 billion.
Japan will see June data for national consumer prices; in May, overall inflation was up 0.3 percent on month and 3.5 percent on year, while core CPI rose an annual 3.7 percent.
New Zealand will see June numbers for credit card spending; in May, spending was up 2.2 percent on year.
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Malaysia GDP Growth Improves In Q2
Malaysia's economic growth improved in the second quarter driven by strong domestic demand amid global trade distortions, advance estimates from the Department of Statistics showed on Friday. Gross domestic product expanded 4.5 percent year-on-year in the second quarter, slightly faster than the 4.4 percent growth seen in the first quarter.
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Yen Falls Ahead Of Japan Election
The Japanese yen weakened against other major currencies in the Asian session on Friday, as traders remain uncertain about Japan's upper house election and consider the fiscal implications of this weekend's vote. Meanwhile, the country's 40-year government bond yield experienced a notable decline.
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Yen Falls Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Friday.
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Antipodean Currencies Rise Amid Risk-on Mood
The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major counterparts in the Asian session on Friday amid increased risk-on mood, as traders reacted to upbeat economic data from the U.S. and Japan that renewed optimism about the global economy. Countries are also hustling to strike trade deals with the U.S. as the August 1 deadline for pausing of "reciprocal tariffs" is less than a fortnight away.
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NZ Dollar Advances Against Majors
The New Zealand dollar strengthened against other major currencies in the Asian session on Friday
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Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Friday
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European Shares Seen Up As Investors Assess Tech Earnings
European stocks are likely to open higher on Friday, with tech stocks in focus after Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, posted record quarterly profit on AI demand and Netflix reported earnings that beat expectations on both the top and bottom lines.
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Sensex, Nifty Slip Into Red On Muted Earnings
Indian shares were slightly lower in early trade on Friday, with uncertainty over U.S. tariffs and a muted start to the quarterly earnings season keeping investors on edge.
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