• Japan Merchandise Trade Balance for April is -Y879.9B (vs. expected of -Y620.6B)
  • Japan Adjusted Merchandise Trade for April is -Y764.4B (vs. expected of -Y602.9B)
  • Japan Adjusted Merchandise Trade for April is -Y764.4B (vs. expected of -Y602.9B)
  • Japan Merchandise Trade Imports for April 9.4% y/y (vs. expected of 6.7%)
  • Weak demand in Europe and China cited for poor export performance, but exports to the U.S. showed a strong rise
  • The trade deficit is the widest in 3 months
  • Its the 10th straight month of trade deficits in April, the longest run since 1980

The BOJ policy meeting concludes today, with an announcement expected sometime around 0330GMT – this is the market focus today, at least ahead of the US Federal Reserve head Bernanke at 1400GMT