AUD/JPY inches lower after registering over 0.5% gains in the previous day, trading around 113.60 during the Asian hours on Thursday. The currency cross remains subdued following the release of Australia’s labor market data.

Bank of Japan (BoJ) Policy Board Member Junko Koeda said on Thursday that Japan's core inflation rate has approached 2%. Koeda also highlighted the progress towards achieving the BoJ's inflation goal, which has been a key focus for policymakers in recent years.

Australia Consumer Inflation Expectations: 5.6% (May) vs previous 5.9%

Australia’s Unemployment Rate climbed to 4.5% in April, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in above the market consensus of 4.3%.

Australia Part-Time Employment increased to -7.9K in April from previous -34.6K

Australia Unemployment Rate s.a. above expectations (4.3%) in April: Actual (4.5%)

Australia Full-Time Employment declined to -10.7K in April from previous 52.5K

Australia Participation Rate came in at 66.7% below forecasts (66.8%) in April

Australia Employment Change s.a. came in at -18.6K, below expectations (17.5K) in April

Japan Adjusted Merchandise Trade Balance increased to ¥236.4B in April from previous ¥90.7B

USD/JPY remains subdued for the second successive day, trading around 158.90 during the Asian hours on Thursday. The pair depreciates as the Japanese Yen (JPY) holds gains following the release of Japan’s Merchandise Trade Balance Total data.

Japan Jibun Bank Services PMI declined to 50 in May from previous 51

Japan Jibun Bank Manufacturing PMI in line with expectations (54.5) in May

Japan Machinery Orders (YoY) came in at 5.9%, above expectations (4.5%) in March

Japan Machinery Orders (MoM) came in at -9.4%, below expectations (-8.1%) in March

Japan Foreign Investment in Japan Stocks fell from previous ¥1437.5B to ¥949.6B in May 15

Japan Merchandise Trade Balance Total above expectations (¥-29.7B) in April: Actual (¥301.9B)

Japan Imports (YoY) above forecasts (8.3%) in April: Actual (9.7%)

Japan Exports (YoY) came in at 14.8%, above forecasts (9.3%) in April

Australia S&P Global Manufacturing PMI: 50.2 (May) vs previous 51.3

The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) declined to 50.3 in May versus 51.3 prior, the latest data published by S&P Global showed on Thursday.

Australia S&P Global Services PMI: 47.7 (May) vs previous 50.7

Australia S&P Global Composite PMI dipped from previous 50.4 to 47.8 in May

New Zealand Trade Balance NZD (MoM) above expectations ($842M) in April: Actual ($1920M)

New Zealand Trade Balance NZD (YoY) climbed from previous $-3.19B to $-2.76B in April

New Zealand Imports declined to $6.7B in April from previous $7.25B

New Zealand Exports climbed from previous $7.94B to $8.62B in April

South Korea Producer Price Index Growth (MoM) rose from previous 1.6% to 2.5% in April

South Korea Producer Price Index Growth (YoY): 6.9% (April) vs 4.1%

Argentina Trade Balance (MoM) below expectations ($1760M) in April: Actual ($2M)