Trade balance for October: Y -710.0bn … deficit narrows from previous month
- expected Y -1027.0bn, prior was Y -960.6bn
Trade balance (adjusted) for October: Y -977.5bn
- expected Y -1100bn, prior was Y -1070.1bn
Exports y/y: +9.6% – rising at the fastest pace since February
- expected 4.5%, prior was 6.9%
Imports y/y: +2.7%
- expected 3.4%, prior was 6.2%
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More:
- Exports to Asia +10.5 pct year/year
- Exports to China +7.2 pct year/year
- Exports to US +8.9 pct year/year
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The big improvement in exports is ging to be very encouraging for the BOJ. they’ve been looking for a boost to exports. If it translates to less likelihood for further easing it is a positive input for the yen and could well limit further topside in the USD/JPY from here. I’m not banking on it, being a very reluctant top-picker of this strong trend …. but if you are braver than me, there you go.
