A big session indeed coming up from Japan:
2330 GMT Japan inflation data, the Tokyo CPI for September
Tokyo CPI y/y
- expected 1.1%, prior was 1.2%
Tokyo CPI excluding Fresh Food y/y
- expected 0.9%, prior was 0.9%
Tokyo CPI excluding Food, Energy y/y
- expected 0.6%, prior was 0.6%
2350 GMT Japan
- Jobless Rate for August, expected is 2.5%, prior was 2.5%
- Job-To-Applicant Ratio for August, expected is 1.63, prior was 1.63
2350 GMT Japan - Bank of Japan Summary of Opinions from the September meeting
- Given not too much happened at the meeting this likely a fizzer.
2350 GMT Japan Industrial production for August, preliminary
- expected +1.4% m/m, prior -0.1%
- expected +1.5% y/y, prior +0.1%
2350 GMT Japan Retail Sales for August
- expected 0.5% m/m, prior 0.1%
- expected 2.0% y/y, prior 1.5%
More from Nomura, looking for an IP beat :
August industrial production
- In the survey of manufacturers' production forecasts carried out on 10 August, the production forecast for August adjusted for forecast error by the Ministry of Economy, Trade & Industry, was 1.2% m-o-m. Trade statistics for August show a 6.6% y-o-y rise in exports (nominal), which are highly correlated with industrial production, higher than the consensus forecast (Bloomberg survey median) of 5.2% growth, suggesting that growth in exports in late August was stronger than expected.
- We expect industrial production in August to exceed the figure in the survey of production forecasts.
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For the yen, keep an eye on trade war developments impacting - Japan / US talks specifically.
