Forex News from InstaForex

PHILIPPINES MARCH TRADE DEFICIT $2.412 BILLION

The Philippines posted a merchandise trade deficit of $2.412 billion in March, government data showed on Friday - following the $2.293 billion shortfall in February.

Exports surged 31.6 percent on year after slipping 2.3 percent in the previous month, while imports jumped an annual 16.6 percent after gaining 2.7 percent a month earlier.

The bureau also said that industrial production plummeted by 74.2 percent on year after sinking an upwardly revised 46.4 percent in February (originally down 46.5 percent).

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EUROPEAN ECONOMICS PREVIEW: UK HALIFAX HOUSE PRICE DATA DUE

Halifax house prices from the UK and investor confidence from euro area are due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway is scheduled to release consumer and producer price figures. Inflation is forecast to fall to 3 percent in April from 3.1 percent in March. In the meantime, foreign trade and consumer prices from Denmark are due.

At 3.30 am ET, UK Halifax house price data is due for April. Prices had increased 6.5 percent annually in three months to March.

At 4.30 am ET, Eurozone Sentix investor confidence data is due. The investor sentiment index is forecast to rise moderately to 14.0 in May from 13.1 in April.

Half an hour later, Greece industrial production figures are due for March.

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EUROPEAN ECONOMICS PREVIEW: GERMANY ZEW ECONOMIC CONFIDENCE DATA DUE

Economic confidence survey data from Germany is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany's wholesale prices for April. Prices had increased 4.4 percent annually in March.

At 3.00 am ET, consumer price figures are due from the Czech Republic and Hungary. The Czech inflation is forecast to rise to 2.7 percent in April from 2.3 percent in March.

Hungary's inflation is seen at 5 percent in April versus 3.7 percent in March.

At 4.00 am ET, Italy's statistical office Istat is scheduled to release industrial production for March. Economists forecast output to grow 0.4 percent on month, following a 0.2 percent rise in February.

At 5.00 am ET, Germany's ZEW economic confidence survey data is due. The economic sentiment index is seen at 72 in May versus 70.7 in April.

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JAPAN LEADING INDEX DATA DUE ON WEDNESDAY

Japan will on Wednesday release preliminary March figures for its leading and coincident economic indexes, highlighting a light day for Asia-Pacific economic activity. Their previous readings were 98.7 and 89.9, respectively.

South Korea will see April numbers for unemployment; in March, the jobless rate was 3.9 percent.

Australia will release March data for building permits, with forecasts suggesting an increase of 17.4 percent on month following the 20.1 percent jump in February.

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NEW ZEALAND FOOD PRICES JUMP 1.1% ON MONTH IN APRIL

Food prices in New Zealand climbed an unadjusted 1.1 percent on month in April, Statistics New Zealand said on Thursday; seasonally adjusted, food prices rose 0.7 percent.

Individually, fruit and vegetable prices rose 4.8 percent (up 3.4 percent after seasonal adjustment); meat, poultry, and fish prices rose 0.1 percent; grocery food prices rose 1.0 percent (up 1.0 percent after seasonal adjustment); non-alcoholic beverage prices fell 1.0 percent; and restaurant meals and ready-to-eat food prices rose 1.2 percent.

On a yearly basis, food prices gained 0.7 percent.

Individually, fruit and vegetable prices increased 6.0 percent; meat, poultry, and fish prices decreased 2.2 percent; grocery food prices decreased 1.3 percent; and non-alcoholic beverage prices decreased 3.4 percent.

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THAI GDP FALLS AT SLOWER PACE IN Q1

Thailand's economy contracted at a slower pace in the first quarter, the National Economic and Social Development Council reported Monday.

Gross domestic product fell 2.6 percent year-on-year in the first quarter, following a 4.2 percent decrease in the fourth quarter. Economists had forecast an annual decline of 3.3 percent.

On a quarterly basis, growth eased sharply to 0.2 percent from 1.1 percent in the preceding quarter. However, the rate was better than the economists' forecast of -0.8 percent.

On the expenditure-side, private final consumption expenditure dropped 0.5 percent annually, while government spending grew 2.1 percent. Gross fixed capital formation increased sharply by 7.3 percent.

Goods and services balance recorded a deficit of THB 30.1 billion, comprising a surplus of THB 224.3 billion in trade balance and a deficit of THB 254.4 billion in service balance.

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JAPAN GROSS DOMESTIC PRODUCT -5.1% ANNUALIZED IN Q1

Japan's gross domestic product contracted an annualized 5.1 percent in the first quarter of 2021, the Cabinet Office said in Tuesday's preliminary report.

That missed expectations for a decline of 4.6 percent following the downwardly revised 11.6 percent increase in the previous three months (originally 11.7 percent).

On a quarterly basis, GDP sank 1.3 percent - again missing expectations for a drop of 1.2 percent following the 2.8 percent increase in the three months prior.

Capital expenditure was down 1.4 percent on quarter, shy of expectations for a gain of 1.1 percent following the 4.3 percent jump in the previous quarter.

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AUSTRALIA WAGE PRICE INDEX CLIMBS 0.6% IN Q1

The wage price index in Australia was up a seasonally adjusted 0.6 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Wednesday.

That exceeded expectations for 0.5 percent and was unchanged from the three months prior.

On a yearly basis, the WPI advanced 1.5 percent - beating forecasts for 1.4 percent, which would have been unchanged.

Wages in the private sector were up 0.6 percent on quarter and 1.4 percent on year, while public sector wages gained 0.4 percent on quarter and 1.5 percent on year.

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AUSTRALIA JOBLESS RATE FALLS TO 5.5% IN APRIL

The unemployment rate in Australia was a seasonally adjusted 5.5 percent in April, the Australian Bureau of Statistics said on Thursday.

That was beneath expectation for 5.6 percent and down from the upwardly revised 5.7 percent in March (originally 5.6 percent).

The Australian economy lost 30,600 jobs last month, well shy of expectations for a gain of 15,000 jobs following the addition of 70,700 jobs in March.

The participation rate fell to 66.0 percent, missing forecasts for 66.3 - which would have been unchanged from the previous month.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE FLASH PMI DATA DUE

Flash Purchasing Managers' survey results from euro area and the UK are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK retail sales data for April. Sales are forecast to grow 4.5 percent on month, slower than the 5.4 percent increase in March.

At 3.15 am ET, IHS Markit releases France flash PMI data for May. The composite output index is forecast to rise to 53.7 from 51.6 in the previous month. At 3.30 am ET, Germany's flash composite output survey results are due. The composite PMI is seen rising to 57.1 in May from 55.8 in the previous month.

At 4.00 am ET, IHS Markit is scheduled to publish Eurozone flash PMI data. The composite output index is expected to climb to 55.1 in May from 53.8 in the previous month.

In the meantime, Italy's industrial turnover data is due for March.

Half an hour later, UK Markit/CIPS flash composite PMI data is due. Economists forecast the composite index to remain unchanged at 60.0 in May.

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NEW ZEALAND RETAIL SALES CLIMB 2.5% ON QUARTER IN Q1

The total volume of retail sales in New Zealand was up a seasonally adjusted 2.5 percent on quarter in the first quarter of 2021, Statistics New Zealand said on Monday - following the upwardly revised 2.6 percent contraction in the three months prior (originally -2.7 percent).

By industry, the main movements were: electrical and electronic goods, up 8.4 percent; recreational goods, up 16 percent; hardware, building, and garden supplies, up 4.5 percent; and department stores, up 5.6 percent.

The total value of retail sales also was up 2.5 percent on quarter ($648 million).

On a yearly basis, sales rose 6.8 percent - accelerating from 4.8 percent in the three months prior.

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SINGAPORE GDP EXPANDS 1.3% ON YEAR IN Q1

Singapore's gross domestic product gained 1.3 percent on year in the first three months of 2021, the Ministry of Trade and Industry said on Tuesday.

That beat expectations for an increase of 0.9 percent following the 2.4 percent contraction in the fourth quarter of 2020.

On a seasonally adjusted quarterly basis, GDP rose 3.1 percent after climbing 3.8 percent in the three months prior.

Upon the release of the data, the MTI maintained its GDP growth forecast for 2021 at 4.0 to 6.0 percent.

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AUSTRALIA CONSTRUCTION WORK CLIMBS 2.4% IN Q1

The value of total construction work done in Australia was up a seasonally adjusted 2.4 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.975 billion.

That beat expectations for an increase of 2.2 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.9 percent).

Building construction was up 2.5 percent on quarter, while residential building gained 5.1 percent, non-residential building fell 1.6 percent and engineering rose 2.2 percent.

On a yearly basis, the value of total construction work fell 1.1 percent. Building construction was down 1.8 percent on year, while residential building gained 4.2 percent, non-residential building fell 10.4 percent and engineering eased 0.3 percent.

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EUROPEAN ECONOMICS PREVIEW: GERMANY GFK CONSUMER CONFIDENCE DATA DUE

Consumer confidence survey results from Germany and Italy are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, German GfK consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to rise to -5.2 in June from -8.8 in May.

In the meantime, foreign trade figures for Switzerland are due.

At 3.00 am ET, the National Institute of Economic Research is slated to publish Sweden economic tendency survey data for May.

Half an hour later, Statistics Sweden is set to issue foreign trade figures for April. The trade surplus is seen at SEK 5.6 billion versus SEK 4.1 billion in March.

At 4.00 am ET, IHS Markit releases Austria's manufacturing Purchasing Managers' survey results.

In the meantime, business and consumer sentiment survey results are due from Italy. The consumer confidence indicator is seen rising to 104.4 in May from 102.3 in April. The business sentiment index is expected to climb to 106.4 from 105.4 a month ago.

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JAPAN JOBLESS RATE CLIMBS TO 2.8% IN APRIL

The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in April, the Ministry of Communications and Internal Affairs said on Friday.

That was above expectations for 2.7 percent and was up from 2.6 percent in March.

The job-to-applicant ratio was 1.09 - again missing forecasts for 1.10, which would have been unchanged from the previous month.

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SINGAPORE PMI PICKS UP STEAM IN MAY - MARKIT

The private sector in Singapore continued to expand in May, and at a faster pace, the latest survey from Markit Economics showed on Thursday with a services PMI score of 54.4.

That's up from 51.8 in April and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Both manufacturing and services registered stronger performances in May, but the construction sector saw a sharp downturn. The finance and insurance sub-sector registered another rapid rate of expansion in activity.

The key domestic event that took place in May had been the reintroduction of Phase 2 restrictions mid-month. Some respondents noted an increase in output ahead of the setting of new restrictions contributing to the overall improvement of business activity. Foreign demand supported the increase in new orders, with renewed export growth in May following a marginal fall in April.

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AUSTRALIA OVERALL HOME LOANS RISE 3.7% ON MONTH IN APRIL

The total value of overall home loans in Australia was up a seasonally adjusted 3.7 percent on month in April, the Australian Bureau of Statistics said on Friday - standing at A$31.0 billion.

The value of new loan commitments for owner occupier housing reached another all-time high in April, up 4.3 percent to A$23.0 billion. New loan commitments for investors rose 2.1 percent to A$8.1 billion, which was the highest level since mid-2017.

The rise in owner occupier lending was driven by increased loan commitments for existing dwellings, which rose 9.2 percent. Loan commitments to owner occupiers for the construction of new dwellings fell 11.4 percent following a fall of 14.8 percent in March.

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AUSTRALIA PERFORMANCE OF SERVICES INDEX CLIMBS T0 61.2 IN MAY - AIG

The services sector in Australia continues to expand in May, and at a slightly faster pace, the latest survey from the Australian Industry Group revealed on Monday with a seasonally adjusted Performance of Services Index score of 61.2.

That's up from 61.0 in April, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

This was the highest monthly result in the Australian PSI? since October 2003.

Four of the five activity indicators - sales, new orders, employment and deliveries - showed positive results in the month.

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EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT, ECONOMIC CONFIDENCE DUE

Industrial production and economic confidence from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production data for April. Economists forecast output to grow 0.5 percent on month, slower than the 2.5 percent increase in March.

At 2.45 am ET, foreign trade and current account figures are due from France.

At 3.00 am ET, industrial production from Hungary and retail sales from the Czech Republic are due. Economists forecast retail sales to grow 11.3 percent annually in April following a 6.6 percent rise in March.

Half an hour later, Statistics Sweden publishes industrial production and new orders data.

At 4.00 am ET, Italy's Istat releases retail sales for April. Sales had decreased 0.1 percent on month in March.

At 5.00 am ET, Germany ZEW economic confidence survey results are due. The economic confidence index is forecast to rise to 86.0 in June from 84.4 in May.

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MALAYSIA JOBLESS RATE FALLS IN APRIL

Malaysia's unemployment rate fell marginally in April, data from the Department of Statistics showed on Wednesday.

The jobless rate fell to 4.6 percent in April from 4.7 percent in March.

The number of unemployed persons decreased to 742,700 in April from 753,200 in the previous month.

The number of employed rose by 0.1 percent monthly to 15.35 million in April from 15.33 million in the prior month.

The labor force participation rate remained unchanged at 68.6 percent in April.

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EURO LITTLE CHANGED FOLLOWING GERMAN PPI

Germany's producer price data has been released at 2.00 am ET Friday. The euro changed little against its major counterparts after the data.

The euro was trading at 130.01 against the yen, 1.0927 against the franc, 0.8564 against the pound and 1.1903 against the greenback around 2:05 am ET.

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FINLAND JOBLESS RATE FALLS IN MAY

Finland's jobless rate decreased in May, figures from Statistics Finland showed on Tuesday.

The unemployment rate for the 15 to 74 age group fell to 9.6 percent in May from 10.9 percent in the same month last year. In April, jobless rate was 9.0 percent.

The number of unemployed persons decreased by 25,000 to 275,000 in May from 300,000 in the last year.

The employment rate rose to 73.0 percent in May from 69.1 percent in the same month last year.

The number of employed persons grew by 138,000 from a year ago to 2.58 million.

On a seasonally adjusted basis, unemployment rate remained unchanged at 7.6 percent in May.

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DUTCH Q1 GDP FALLS MORE THAN ESTIMATED

The Dutch economy contracted more than initially estimated in the first quarter, revised data from the Central Bureau of Statistics showed on Thursday.

Gross domestic product declined 0.8 percent sequentially, bigger than the -0.5 percent estimated on May 18. GDP had remained flat in the fourth quarter of 2020.

The expenditure-side breakdown of GDP showed that household spending decreased 3.5 percent and government expenditure was down 2 percent. At the same time, gross investment in fixed assets advanced 3 percent.

Import of goods and services gained 0.8 percent and exports of goods and services grew 1.1 percent.

On a yearly basis, GDP contracted 2.4 percent annually, after falling 2.9 percent in the fourth quarter. The decline for the first quarter was revised from -2.8 percent.

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UK CONSUMER CONFIDENCE REMAINS STABLE IN JUNE: GFK

UK consumer sentiment remained unchanged in June, survey results from market research group GfK showed on Friday.

The consumer confidence index held steady at -9.0 in June, while it was forecast to rise to -7.0.

"A repetition of last month's score doesn't mean confidence is about to nose-dive," Joe Staton, client strategy director at GfK, said.

The upwards trajectory for the Index since the dark days at the start of the pandemic is currently still on track, Staton said. However, forecasts for rising retail price inflation could weaken consumer confidence quickly.

Four measures of the index were up in comparison to the previous month, while one measure was down.

The index measuring past changes in personal finances gained four points to zero. The forecast for personal finances over the next year rose only one point to +11.

The measure for the general economic situation over the last year edged up one point to -47, while the expectations for the general economic situation over the coming twelve months dropped by six points to -2.

The Major Purchase Index improved by two points to -5 and the Savings Index was down one point to +21 in June.

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DOLLAR RECOVERS AFTER MID SESSION SETBACK

The U.S. dollar depreciated against its most major counterparts in the European session on Friday, as the nation's personal income slumped in May, easing fears over a faster tightening of monetary policy by the U.S. Federal Reserve. .

The currency recovered from lows post noon and even managed to gain some ground against some of its rivals.

In economic news today, a report from the Commerce Department showed the annual rate of core consumer price growth in May matched economist estimates. The reading on inflation said to be preferred by the Fed showed the annual rate of core consumer price growth accelerated to 3.4% in May from 3.1% in April.

According to the data released by the Commerce Department, personal income slumped by 2% in May after plunging by 13.1% in April. Economists had expected personal income to tumble by 2.5%.

Meanwhile, the report showed personal spending was virtually unchanged in May after climbing by 0.9% in April. Personal spending was expected to rise by 0.4%.

A report from the University of Michigan said that its consumer sentiment reading for the US was revised lower to 85.5 in June from a preliminary reading of 86.4. Although market had expected to score to come in at 87.4, it still remained the second-highest since start of the pandemic.

The currency was further weighed by stimulus optimism, after President Joe Biden announced that the White House has reached an infrastructure deal with U.S. Senators worth $579 billion.

The agreement proposes spending to rebuild roads, bridges and other traditional infrastructure over the next five years.

The package is expected to generate "millions" of jobs and will be funded through unused coronavirus aid money and returned state jobless benefits.

The dollar index dropped to 91.53 around mid morning, but rallied to 91.88 later on in the day. It was last seen at 91.80, down slightly from the previous close.

Against the Euro, the dollar was slightly weak at $1.1937, after recovering from $1.1977.

Against Pound Sterling, the dollar firmed to $1.3879, gaining from $1.3922.

The Yen gained marginally at 110.79 a dollar.

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UK SHOP PRICES CONTINUE TO FALL IN JUNE: BRC

UK shop prices continued to fall in June, data from the British Retail Consortium showed on Wednesday.

The shop price index slid 0.7 percent year-on-year in June, after easing 0.6 percent in May. Non-food prices were down 1 percent in June.

Non-food prices, particularly for fashion, remained deflationary as businesses tried to prolong the recent pickup in consumer spend, Helen Dickinson, chief executive at BRC, said.

Food prices also fell, which is a testament to supermarkets battling to keep prices low for their customers.

The fact that shop prices remain in negative territory despite the recent rise in CPI is indicative of the competitive retail landscape in the UK and keeping prices low for as long as possible is good news for shoppers, said Mike Watkins, Head of Retailer and Business Insight, NielsenIQ.

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AUSTRALIA HOUSING LOAN COMMITMENTS RISE TO RECORD HIGH

Australia's new housing loan commitments increased to a new high in May, data released today by the Australian Bureau of Statistics showed Friday.

New housing loan commitments rose 4.9 percent in May to a new high of A$32.6 billion, driven by investor housing loan commitments.

The value of new loan commitments for investor housing rose 13.3 percent to A$9.1 billion, which was the highest level since June 2015.

New loan commitments for owner occupiers grew 1.9 percent to A$23.4 billion, the highest level since the series began.

However, for the third consecutive month there were falls in the value of loan commitments for residential land and the construction of new dwellings, ABS said.

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CHINA SERVICE SECTOR EXPANDS AT SLOWER PACE IN JUNE

China's service sector expanded at a much slower pace in June as the recent uptick in COVID-19 cases and reduced travel dampened overall new business, survey results published by IHS Markit showed on Monday.

The Caixin services Purchasing Managers' Index fell notably to 50.3 in June from 55.1 in May. Nonetheless, the index has remained above the neutral 50 mark for the fourteenth successive month. The slower upturn in business activity coincided with a softer increase in overall new work. New work from abroad meanwhile increased only marginally.

Employment across the service sector fell for the first time in four months.

On the price front, the survey showed that input price inflation eased to the lowest since September 2020. Services companies lowered their average output charges for the first time in nearly a year in June.

Although services companies remained strongly upbeat regarding the year-ahead outlook for activity, the resurgence of the COVID-19 virus dampened overall optimism in June. Moreover, the degree of positive sentiment slipped to a nine-month low.

The composite output index that measures the overall performance of manufacturing and services, slipped to 50.6 in June from 53.8 in May. The rate of growth was the softest seen in the current 14-month period of expansion and only marginal.

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EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany and house prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's industrial production data for May. Economists forecast industrial output to grow 0.5 percent on month, in contrast to a 1 percent fall in April.

At 2.45, foreign trade and current account figures are due from France.

At 3.00 am ET, the Czech Statistical Office is scheduled to issue industrial and construction output and foreign trade data. Industrial output is seen rising 32.7 percent annually in May.

Half an hour later, UK Halifax house price data is due. Economists forecast house prices to climb 1.2 percent on month in June, slower than the 1.3 percent rise in May.

In the meantime, Statistics Sweden is set to release industrial output and new orders data.

At 4.00 am ET, Italy's Istat publishes retail sales for May. Sales had decreased 0.4 percent in April.

At 5.00 am ET, EU economic forecast is due from the European Commission.

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FRANC LITTLE CHANGED AFTER SWISS JOBLESS RATE

At 1.45 am ET Thursday, Swiss unemployment data has been released. The franc changed little against its major counterparts after the data.

The franc was trading at 0.9247 against the greenback, 119.26 against the yen, 1.0915 against the euro and 1.2750 against the pound around 1:50 am ET.

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CHINA CPI SLOWS TO 1.1% ON YEAR IN JUNE

Consumer prices in China were up 1.1 percent on year in June, the National Bureau of Statistics said on Friday.

That was shy of expectations for an increase of 1.3 percent, which would have been unchanged from the May reading.

On a monthly basis, consumer prices fell 0.4 percent - again missing expectations for a flat reading following the 0.2 percent decline a month earlier.

The bureau also said that producer prices were up 8.8 percent on year - in line with expectations and slowing from 9.0 percent in the previous month.

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AUSTRALIA BUILDING PERMITS SINK 7.1% IN MAY

The total number of building permits issued in Australia was down a seasonally adjusted 7.1 percent on month in May, the Australian Bureau of Statistics said on Monday - coming in at 20,163.

That matched expectations following the 5.7 percent decline in April.

On a yearly basis, building permits surged 52.7 percent.

Permits for private sector houses sank 10.3 percent on month but climbed 55.2 percent on year to 13,571. Permits for private sector dwellings excluding houses rose 1.2 percent on month and 53.6 percent on year to 6,374.

The value of total building rose 4.5 percent on month, while the value of total residential building fell 6.7 percent and the value of non-residential building rose 28.5 percent

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JAPAN TERTIARY ACTIVITY FALLS IN MAY

Japan's tertiary activity declined for the second straight month in May, data from the Ministry of Economy, Trade and Industry showed on Thursday.

The tertiary activity index fell 2.7 percent month-on-month in May, following a 0.8 percent decrease in April.

Among the individual components, medical, health care and welfare, living and amusement-related services, wholesale trade, information and communications, transport and postal activities, finance and insurance, retail trade, and goods rental and leasing declined in May.

Meanwhile, business-related services, real estate, flat industry, and electricity, gas, heat supply and water increased.

On a yearly basis, tertiary activity increased 10.3 percent in May, following a 9.9 percent rise in the previous month.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE FINAL INFLATION DATA DUE

Final consumer prices and foreign trade figures from the euro area are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers' Association is set to release new car registrations data for June.

At 3.00 am ET, harmonized consumer price figures are due from Austria and Slovakia.

At 4.00 am ET, Italy's Istat publishes external trade data for May.

At 5.00 am ET, Eurostat is scheduled to issue euro area final consumer prices and foreign trade figures. According to flash estimate, inflation eased to 1.9 percent in June from 2 percent in the previous month.

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NEW ZEALAND SERVICES INDEX DATA DUE ON MONDAY

New Zealand will on Monday see June results for the Performance of Services Index from BusinessNZ, highlighting an exceptionally light day for Asia-Pacific economic activity.

In May, the index score was 56.1 - well above the boom-or-bust line of 50 that separates expansion from contraction.

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JAPAN OVERALL INFLATION CLIMBS 0.2% ON YEAR IN JUNE

Overall consumer prices in Japan were up 0.2 percent on year in June, the Ministry of Internal Affairs and Communications said on Tuesday.

That was in line with expectations following the 0.1 percent decline in May.

Core consumer prices, which exclude volatile food prices, also gained an annual 0.2 percent. That too matched estimates following the 0.1 percent increase in the previous month.

Individually, prices were higher for food, housing, fuel, furniture, clothing, education and recreation; they were lower for medical care and transportation.

On a seasonally adjusted monthly basis, overall inflation was up 0.3 percent and core consumer prices rose 0.1 percent.

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UK CONSUMER SENTIMENT IMPROVES IN JULY: GFK

UK consumer sentiment strengthened more-than-expected in July to reach ahead of its March 2020 pre-lockdown level, survey data from the market research group GfK showed on Friday.

The consumer sentiment index rose to -7 in July from -9 in the previous month. The expected reading was -8.

"This means it has now held firm or improved for six months in a row," Joe Staton, client strategy director GfK, said. "What happens across the remaining summer months will frame consumer confidence for the rest of 2021 and beyond," Staton added.

Among components of the consumer sentiment index, two measures were up in comparison to June, two measures were down and one stayed the same in July.

The assessment of the past personal financial situation fell to -1 from zero in June, while the outlook for the personal financial situation held steady at 11.

Consumers' view about the past general economic situation climbed to -43 from -47, while expectations for the general economic conditions worsened to -5 from -2.

At the same time, the major purchase index rose to +2 from -5 a month ago.

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AUSTRALIA INFLATION DATA DUE ON WEDNESDAY

Australia will on Wednesday see Q2 figures for consumer prices, highlighting a modest day for Asia-Pacific economic activity.

Overall inflation is expected to rise 0.7 percent on quarter and 3.8 percent on year after gaining 0.6 percent on quarter and 1.1 percent on year in the three months prior.

The RBA's trimmed mean is called higher by 0.5 percent on quarter and 1.6 percent on year, accelerating from 0.3 percent on quarter and 1.1 percent in year in Q1. The RBA's weighted median is tipped to rise 0.5 percent on quarter and 1.7 percent on year, up from 0.4 percent on quarter and 1.3 percent on year in Q1.

Japan will see final May results for its leading and coincident indexes; the previous readings were 103.8 and 95.3, respectively.

Thailand will provide June numbers for industrial production, with forecasts suggesting an increase of 18.75 percent following the 25.84 percent spike in May.

Finally, the markets in Thailand are closed on Wednesday in observance of King Maha's Birthday; they will re-open on Thursday.

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AUSTRALIA EXPORT PRICES SPIKE 13.2% ON QUARTER IN Q2

Export prices in Australia were up 13.2 percent on quarter in the second quarter of 2021, the Australian Bureau of Statistics said on Thursday - accelerating from 11.2 percent in the previous three months.

On a yearly basis, export prices surged 26.0 percent.

The main contributors to the rise were: metalliferous ores and metal scrap (+18.5 percent), driven by the demand for iron ore from China and constrained global supply; coal, coke and briquettes (+15.6 percent), reflecting the demand for thermal coal for household power production in Asia; and gas, natural and manufactured (+14.6 percent), due to the oil-linked contracts capturing the continued rise in oil prices in early 2021.

Import prices rose 1.9 percent on quarter and fell 2.5 percent on year.

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JAPAN INDUSTRIAL OUTPUT JUMPS 6.2% IN JUNE

Industrial production in Japan was up a seasonally adjusted 6.2 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.

That beat expectations for an increase of 5.0 percent following the downwardly revised 6.5 percent contraction in May (originally -5.9 percent). On a yearly basis, industrial production spiked 22.6 percent - roughly in line with expectations following the 21.1 percent gain in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.

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