Japanese first quarter growth, meanwhile, is expected to be revised up one tenth of a percent to 0.5% on a quarterly basis, and three tenths of a percent to 1.9% on an annualized basis, thanks to solid investment from manufacturers.
The U.S. dollar is back above 140.00 yen and a soft GDP print could push it closer to the year-to-date high just below 141.00 yen. A narrower-than-expected current account surplus in April, figures for which are also out on Thursday, could do the trick too.
The Australian dollar, which hit a one-month high on Wednesday following the RBA’s rate hike, could get a nudge from Australian trade data on Thursday. The consensus forecast is for the surplus to narrow slightly from March to A$14 billion.
|