Trade balance for June:Y -822.2 bn

  • expected Y -642.9bn, prior was Y -910.8bn

Trade balance (adjusted) for June: Y -1080.8bn

  • expected Y -1119.9bn, prior was Y 862.2bn

Exports for June y/y: -2.0%

  • expected 1.0%, prior was -2.7%

Imports for June y/y: +8.4%

  • expected 8.3%, prior was -3.5%

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Looking at exports by country:

  • June exports -2.2% y/y to the USD
  • June exports +1.5% y/y to China
  • June exports to Asia -3.8% y/y
  • June exports to EU +6.4% y/y (as the yen fell, Europe scooping up those cheaper Lexuseseses … what is the plural of Lexus, anyway?)

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Exports much weaker than expected.

Hey, guess what? Yen does … zzzzzzzzzzzzz

Sorry, I must have dropped off for a minute there.

Yen does nothing