EUR/JPY consolidates near 130.00 ahead of EU data
- EUR/JPY trades with minor losses on Friday in the Asian session.
- The Euro gains are limited on ECB view and mixed economic data.
- Yen losses grounds on dismal economic data and a state of emergency.
EUR/JPY edges lower on Friday in the Asian trading hours. The pair opened higher following the previous day’s upside momentum. However, fell quickly to touch an intraday low at 130.07
At the time of writing, EUR/JPY is trading at 130.09, down 0.02% for the day.
The European Central Bank’s (ECB released its strategic review meeting account which stated that the price stability was best maintained by aiming for a 2% inflation target.
In the meantime, ECB President Christine Lagarde warned about a fresh third wave of the COVOID-19 pandemic and its impact on the economy. The shared currency came under pressure following the comments.
The Consumer Confidence Sentiment came at -4.4 in July from the previous month -3.3 readings. The Eurozone Service Sentiment rose to a 14-year peak in July at 19.3, but below the market estimates of 19.9.
It is worth noting that S&P 500 Futures were trading at 4,377, with 0.77% losses.
On the other hand, the Japanese yen manages to hold the ground on its safe haven appeal amid rising coronavirus delta variants.
On the economic data front, Retail Sales grew at 0.1% in July, below the market expectations of 0.2%. The Jobless Rate unexpectedly edged down at 2.9%.
The Bank of Japan (BOJ) said that the central bank might be able to begin a debate on a strategy for hitting the price target near the end of 2021.
Meanwhile, Prime Minister Yoshihide Suga announced a state of emergency in Tokyo, to curb rising coronavirus infections.
As for now, traders await the Eurozone Gross Domestic Product (GDP) Rate and Inflation Rate to gauge the market sentiment.
EUR/JPY additional levels