According to CNBC, Asia-Pacific stocks are set for a softer open after Tokyo inflation came in hotter than expected, pointing to weaker risk sentiment at the regional market open (source: CNBC). According to CNBC, the hotter-than-expected Tokyo inflation print is the stated driver behind the anticipated softer equity open across the region (source: CNBC).

According to WallStreetBulls, Japan's Nationwide CPI for April has been reported at 3.6%, falling short of the forecasted 3.7%. This slight deviation from expectations may influence market sentiment and trading strategies, particularly in the cryptocurrency sector. Lower-than-expected inflation could lead to a more dovish stance from the Bank of Japan, potentially impacting the yen and global currency markets. As a result, traders might see increased volatility in cryptocurrency prices, especially for Bitcoin and Ethereum, as they react to shifts in fiat currency valuations.