Economic data due from Japan today - December trade balance

Say what you like about cheap oil ("We're all doomed" seems to be popular, but, hey, when isn't it?) its helping Japan's energy-importing industries

We'll get the trade balance data for December today:

• expected is a surplus of 117bn Y (that's the Bloomberg poll, Reuters is slightly lower at 100bn), prior was a deficit of 381.3bn Y

On exports & imports

• Exports expected is -7.0% y/y (Reuters poll is at -6.8%), prior was -3.3%
• Imports -16.4% y/y, prior was -10.2%

The trade balance data is unlikely to much of a mover for the yen ... eyes are on China markets and developments at the Bank of Japan (monetary policy meeting later this week). In Davos BOJ Governor Kuroda offered his regular upbeat take on the economy, diminishing expectations of more policy easing.