USD Buoyed, JPY Drifts on GDP

At 2:00 AM Bank of Japan May Report
At 7:00 AM Canada April CPI m/m (exp 0.3%, prev 0.8%)
Canada April CPI y/y (exp 2.1%, prev 2.3%)
Canada April core CPI m/m (exp 0.1%, prev 0.3%)
Canada April core CPI y/y (exp 2.4%, prev 2.3%)
At 8:30 AM US Weekly Jobless Claims (exp 310k, prev 297k)
At 10:00 AM US April Leading Indicators (exp -0.1%, prev 0.1%)
May Philadelphia Fed Survey (exp 3.0, prev 0.2)

The greenback remains firmer across the board heading into the Thursday session, with traders turning to US economic reports. The data include weekly jobless claims, April leading indicators and the May Philadelphia Fed survey. Jobless claims are seen edging higher to 310k from 297k a week earlier, while the April leading indicators are expected to give back last month’s 0.1% increase, falling by 0.1%. Lastly, the Philadelphia Fed survey is forecasted to improve to a 3.0 reading, up considerably from 0.2 previously.

This morning will also see the release of consumer price inflation data from Canada, scheduled for 7:00 AM. April CPI is forecasted to slip to 0.3%, from 0.8% a month earlier and fall to 2.1% versus 2.3% versus the previous year. The core readings for CPI are seen mixed, with the monthly number down to 0.1% from 0.3% while the annualized figure is expected to edge up slightly to 2.4% from 2.3%.