USD/JPY declines on track for first weekly loss in three

USD/JPY fell in Asian trade following earlier inflation data from Japan and ahead of US data and a speech by Fed Chair Jerome Powell, and a press conference by US President Donald Trump. 

As of 06:06 GMT, USD/JPY shed 0.49% to 107.12, with the lowest since May 18 at 107.09. 

Earlier Japanese data showed consumer prices rose 0.4%, up from 0.2% before, while core prices rose 0.2%. 

Japan's industrial production fell 9.1% in April m/m, while falling 14.4% y/y.

Japan's retail sales fell 9.6% in April m/m, and fell 13.7% y/y, as the unemployment rate rose to 2.6% from 2.5%. 

Finally, Japan's consumer confidence survey rose to 24 from 21.6, as housing starts fell 12.9% in April. 

From the US, personal spending is expected down 12.6% in April, while personal income is expected down 7%. 

US goods trade balance is expected to show a deficit of $64.8 billion in April, while wholesale inventories is expected down 0.5%. 

The University of Michigan's consumer sentiment survey is expected to show no change at 73.7 for May.