Japanese June trade data is here (spoiler alert, higher than expected surplus)

Reuters recap the figures:

  • Japan's exports fell less than expected (although it was the ninth consecutive monthly fall)
  • A tentative sign that overseas demand could be recovering, could ease concerns for Japan's policymakers
  • Exports fell on declines in shipments of cars and steel

Reuters also recap:

  • The government is crafting a massive spending package
  • Worth about 20 trillion yen
  • The BOJ is expected to ease monetary policy on July 29

Meanwhile, USD/JPY today so far: