Japan August export data - more

Trade balance data from Japan in August showed exports falling for the ninth month in a row:

• Japan data - August exports come in not as bad as expected (imports worse)

More:

• Exports to China -12.1%
• to the US -4.4%

The trade war headwinds for Japan are increasing, if these numbers are anything to go by. Weighing on the external sector. Coming up next month is the sales tax hike.

The BOJ meet this week and expectations are for them to keep policy unchanged. That expectations might be tested.