We got trade data from Japan a little earlier, with misses on both exports and imports
Casting an eye over the results, via Bloomberg:
- Exports should continue to increase in the second quarter, reflecting growth in the global economy, Koya Miyamae, Rina Adachi and Yoshimasa Maruyama of SMBC Nikko Securities, wrote in note before the data release.
via Reuters :
- Japan's exports accelerated in April on increased shipments of cars and machines used to make semiconductors, suggesting healthy overseas demand could help the economy recover quickly from a dip in the first quarter.
USD/JPY has managed a little higher since the data, popping to circa 111.05 and back under the figure (or thereabouts) as I update. Yen has been on the heavy side, on Friday we got another disappointing round of CPI data; there is further CPI data to come this week (Tokyo figures for May)
