Amid broad-based US dollar rebound and moderate risk-on market conditions, the USD/JPY pair rallied hard and stormed through the 111 handle. The Yen slipped across the board and emerged the weakest in Asia, largely on the back of the ongoing advance in the Japanese equities. Meanwhile, the Antipodeans treaded water following mixed Chinese inflation figures while disappointing Australia’s NAB business surveys ensured the AUD bulls remain on the back seat. However, positive oil prices and bullish bias seen in gold prices kept the downside cushioned. Both the Euro and GBP traded with moderate losses, as markets look forward to a fresh batch of macro news and the UK political developments for fresh trading impetus. Main topics in Asia PBOC advisor: there’s still room for further liquidity injections – China Press According to China’s Economic Information Daily newspaper, citing an advisor for the People’s Bank of China (PBOC), there is still room for further liquidy injections in China’s economy. China’s CPI eases to -0.1% m/m in June, a negative surprise According to the latest data published by China’s the National Bureau of Statistics (NBS), the Chinese Consumer Price Index (MoM) (June) came in at -0.1% vs 0.0% exp and -0.2% last, while Consumer Price Index (YoY) (June) 1.9% vs 1.9% exp and 1.8% last. Australia NAB business confidence steadies at 15 in June Australia’s business confidence index arrived at +6 index points, matching the estimate of 6, according to National Australia Bank (NAB) business survey 2018. Asian stocks on the rise, Japan’s Nikkei 225 lifting for third straight day Asian equities are broadly lifting once again as indexes bump upwards for Tuesday, with Japan’s Nikkei 225 in the green for a third consecutive trading day. Key Focus ahead The EUR calendar ahead remains eventful, with a host of economic releases due on the cards from the UK docket, including the GDP, trade balance and industrial production, all due at 0830 GMT. Next of note is likely to be the ZEW business surveys from Germany and the Eurozone. Meanwhile, the NA session sees the releases of the Canadian housing data and US JOLTS job openings, followed by ECB Lautenschlaeger ‘s speech due at 1700 GMT and US API crude stockpiles data. EUR/USD: Above 50-day MA, holds rising trendline ahead of German ZEW surveys The EUR/USD closed above the 50-day moving average (MA) for the first time since April 19 and traded flat-lined around 1.1750 in Asia. The common currency will likely pick up a strong bid should the German ZEW survey, due for release at 09:00 GMT, betters estimates. GBP/USD staggering near 1.32 ahead of the UK’s first-ever monthly GDP reading With Brexit concerns continuing to put a drag on the GBP’s chart action, Tuesday sees a raft of economic data, all dropping at 08:30 GMT. May’s m/m Industrial Production is expected to come in at 0.5% (last -0.9%) “¦ UK: Key economic events today – Nomura Analysts at Nomura enlist key event risks scheduled for release from the UK docket today, all dropping in at 0830 GMT. US data preview: JOLTS to indicate sustained worker demand – Nomura Analysts at Nomura explained that the Job openings increased 65k to 6698k in April, marking the first time since JOLTS started in 2000 that vacancy postings outnumbered the unemployed (6346k in the same month). Gold Technical Analysis: Path of least resistance is on the higher side The metal’s rebound from the confluence of ascending 50-hour moving average (MA) and the upper end of bull flag (now a support) may recharge engines for a break above $1,266 (Monday’s high). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next FX option expiries for July 10 NY cut FX Street 3 years Amid broad-based US dollar rebound and moderate risk-on market conditions, the USD/JPY pair rallied hard and stormed through the 111 handle. The Yen slipped across the board and emerged the weakest in Asia, largely on the back of the ongoing advance in the Japanese equities. Meanwhile, the Antipodeans treaded water following mixed Chinese inflation figures while disappointing Australia's NAB business surveys ensured the AUD bulls remain on the back seat. However, positive oil prices and bullish bias seen in gold prices kept the downside cushioned. 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