The data is here
(But, to repeat …
Trade balance for December: Y -660.7bn
- expected Y -735.2bn, prior was Y -893.5bn
Trade balance (adjusted) for December: Y -712.1bn
- expected Y -743.1bn, prior was Y -925.0bn
Exports for December y/y: 12.9%
- expected 11.2%, prior was 4.9%
Imports for December y/y: 1.9%
- expected 2.0%, prior was -1.6%
And, at the same time we got Minutes from the Bank of Japan December 18/19 meeting)
More:
Exports:
- up for a fourth straight month
- fastest growth in a year
A couple of divergent thoughts:
- “Exports are growing clearly, especially to Asian countries excluding China,” Hiroshi Watanabe, an economist at SMBC Nikko Securities Inc. in Tokyo, said before the data was released. “There is no doubt that external demand will contribute positively to Japan’s economic growth.” Via Bloomberg
- “Exports have bottomed out but I doubt whether they will accelerate from now on due to growing uncertainty over the global economy,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Via Reuters
There ya go, something for everyone! Choose whichever suits your bias
… I’m going with the first.
–
Meanwhile, USD/JPY has found nearly the mid-point of Monday’s range so far:
