Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Friday.

The yen rose to a 3-day high of 111.73 against the U.S. dollar and a 2-day high of 116.81 against the Swiss franc, from yesterday’s closing quotes of 112.16 and 117.28, respectively.

Against the euro and the pound, the yen advanced to 127.80 and 145.48 from yesterday’s closing quotes of 128.29 and 145.85, respectively.

If the yen extends its uptrend, it is likely to find resistance around 110.00 against the greenback, 113.00 against the franc, 124.00 against the euro and 142.00 against the pound.

The material has been provided by InstaForex Company – www.instaforex.com

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Swiss Franc Falls Against Majors

The Swiss franc weakened against other major currencies in the Asian session on Friday.

The Swiss franc fell to a 2-day low of 116.81 against the yen, from yesterday’s closing value of 117.28.

Against the euro and the pound, the franc dropped to nearly a 6-week low of 1.0949 and nearly a 2-week low of 1.2464 from yesterday’s closing quotes of 1.0934 and 1.2432, respectively.

The franc edged down to 0.9572 against the U.S. dollar, from an early near 8-month high of 0.9550.

If the franc extends its downtrend, it is likely to find support around 114.00 against the yen, 1.10 against the euro, 1.26 against the pound and 1.00 against the greenback.

The material has been provided by InstaForex Company – www.instaforex.com

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Estonia Industrial Production Growth Quickens In May

Estonia’s industrial production growth accelerated in May, while retail sales rose at a stable pace, figures from Statistics Estonia showed Friday.

Industrial production surged a working-day-adjusted 12.6 percent year-over-year in May, faster than the 10.3 percent spike in April. The measure has been rising since July 2016.

Among sectors, energy production grew the most by 57.9 percent annually in May, followed by mining output with 34.9 percent growth.

On a monthly basis, industrial production dropped a seasonally adjusted 0.3 percent from April, when it rose by 0.4 percent.

Separately, the statistical office revealed that retail sales climbed at a steady rate of 1.0 percent yearly in May. Sales have been increasing since October 2013.

Month-on-moth, retail sales rebounded strongly by 9.0 percent in May, following a 1.0 percent decline in the prior month,

The material has been provided by InstaForex Company – www.instaforex.com

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Japan Housing Starts Drop In May

Japan’s housing starts dropped for the first time in three months in May but the pace of decline was slower than expected, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Friday.

Housing starts dropped 0.3 percent on a yearly basis in May, reversing a 1.9 percent rise in April. This was the first fall in three months. Economists had forecast a 0.7 percent decline.

The number of housing starts declined to 998,000 from 1 million units in April. It was expected to fall to 986,000.

Data showed that construction orders received by 50 big contractors declined for the second straight month. Orders decreased 0.5 percent, following a 0.2 percent fall in April.

The material has been provided by InstaForex Company – www.instaforex.com

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Pound Rises Against Most Majors

The British pound strengthened against most major currencies in the Asian session on Friday.

The pound rose to more than a 5-week high of 1.3029 against the U.S. dollar, from yesterday’s closing value of 1.3004.

Against the euro and the Swiss franc, the pound advanced to a 2-day high of 0.8776 and nearly a 2-week high of 1.2464 from yesterday’s closing quotes of 0.8796 and 1.2432, respectively.

If the pound extends its uptrend, it is likely to find resistance around 1.31 against the greenback, 0.86 against the euro and 1.26 against the franc.

The material has been provided by InstaForex Company – www.instaforex.com

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