Asia-Pacific markets are set to open mixed as investors await Tokyo, U.S. inflation data

Japan will release June inflation data for the capital city of Tokyo, which is widely considered to be a leading indicator of nationwide trends.

The yen currently still stands beyond the 160 mark against the dollar. On Thursday, the yen hit its weakest level against the greenback in 38 years. Asia-Pacific markets were set to open mixed on Friday, as investors awaited key economic data out of Japan as well as U.S. inflation reading for clues on the two countries' monetary policy path.The Japanese yen currently still stands above the 160 mark against the dollar, last at 160.72, after hitting its weakest level against the greenback in 38 years on Thursday.

Japan will release June inflation data for the capital city of Tokyo, which is widely considered to be a leading indicator for nationwide trends.futures pointed to a rebound for the market, with the futures contract in Chicago at 39,620 and its counterpart in Osaka at 39,580 compared to the previous close of 39,341.54.In contrast, Hong Kong Hang Seng index futures were at 17,524, lower than the HSI's last close of 17,716.47. The index had hit a near two-month low on Thursday.

The U.S. is expected to release its preferred inflation gauge, the personal consumption expenditure index on Friday.

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