USD/JPY climbs for second session ahead of Powell's testimony

USD/JPY tilted higher in Asian trade following earlier Japanese data and ahead of US data later today, while Federal Reserve Chair Jerome Powell is due to testify on the CARES Act before the Committee on Banking, Housing, and Urban Affairs, in Washington DC.

As of 06:59 GMT, USD/JPY climbed 0.07% to 104.31, with an intraday high at 104.46. 

From Japan, unemployment rose to 3.1% as expected, while capital spending fell 10.6% in the third quarter. 

Japan's manufacturing PMI improved to 49 from 48.7, beating estimates of 48.3. 

From the US, the Markit manufacturing PMI is expected at 56.7, same as before, while construction spending is expected up 8% in October. 

The ISM manufacturing PMI is expected down to 57.9 from 59.3, while manufacturing prices are expected down to 65 from 65.5 in October. 

Later today, Federal Reserve Chair Jerome Powell is due to testify on the CARES Act before the Committee on Banking, Housing, and Urban Affairs, in Washington DC.