A big day for data from Japan, with the first data releases scheduled for 2330GMT (1930NY time), not the more usual 2350GMT.
- 2330GMT (1930NY time) Overall Household Spending y/y for July, expected is -2.9%, prior was -3.0%
- 2330GMT Jobless Rate for July, expected is 3.7%, prior was 3.7%
- 2330GMT Job-To-Applicant Ratio for July, expected is 1.10, prior was 1.10
- 2330GMT National CPI y/y for July, expected is 3.4%, prior was 3.6%
- 2330GMT National CPI y/y excluding Fresh Food for July, expected is 3.3%, prior was 3.3%
- 2330GMT National CPI excluding Food, Energy y/y for July, expected is 2.3%, prior was 2.3%
- 2330GMT Tokyo CPI y/y for August, expected is 2.7%, prior was 2.8%
- 2330GMT Tokyo CPI excluding Fresh Food y/y for August, expected is 2.7%, prior was 2.8%
- 2330GMT Tokyo CPI excluding Food, Energy y/y for August, expected is 2.1%, prior was 2.1%
Note – The Bank of Japan has estimated that the sales tax hike – to 8 percent from 5 percent on April 1 – added 1.7 percentage points to the annual consumer inflation rate in April, and 2.0 points from the following month. Inflation in Japan … all is not as it seems … “do the math” … (& I posted this yesterday … BOJ staff are warning that the structural weakness of exports and consumption may hamper a sustained recovery)
More data from Japan today:
Due at 2350GMT (1950NY time):
- Retail Trade for July m/m, expected is +0.3%, prior +0.5%
- Retail Trade for July y/y, expected is -0.2%, prior -0.6%
- Industrial Production m/m for July (preliminary reading), expected is +1.0%, prior was -3.4%
- Industrial Production y/y for July (preliminary), expected is -0.1%, prior was +3.1%
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And stay tuned there will be even more when Mike comes in later today!