Japan Data Response Japan External Trade (Sep. 22) The trade deficit narrowed from its record high in August, but with the yen weakening significantly in recent days, any further narrowing of the deficit will likely be delayed. 20th October 2022 · 2 mins read
Japan Chart Pack Another intervention wouldn’t reverse yen weakness With the yen currently trading just below 149, it now appears to be a question of when and not if policymakers step in again. But as recent weeks and the Asian Financial Crisis have shown, such... 17th October 2022 · 11 mins read
Japan Economics Weekly MoF winding up for another intervention The yen weakened below its 1998 trough today, with no explicit intervention in response from the Ministry of Finance. That doesn't mean it won't step in again, but it appears to be more concerned... 14th October 2022 · 6 mins read
Japan Data Response Japan Machinery Orders (Aug. 2022) Although “core” machinery orders dropped sharply in August due to a crash in non-manufacturing orders, Q3’s average still points to an expansion in non-residential investment growth this quarter... 12th October 2022 · 2 mins read
Japan Data Response Japan Economy Watchers Survey (Sep. 2022) Current readings picked up in September’s Economy Watchers Survey but fell well short of the peaks seen after previous virus waves ended. However, we suspect that the fading virus wave, the domestic... 11th October 2022 · 2 mins read
Japan Economics Weekly BOJ gets a glimpse of wage-price pressures The strongest increase in regular wages in 25 years is an early sign that the virtuous cycle between prices and wages that the Bank of Japan would like to see is starting to materialise. But with... 7th October 2022 · 5 mins read
Japan Data Response Japan Labour Cash Earnings (Aug. 22) The 1.6% annual rise in regular earnings last month was the largest since 1997 and jars with the fact that the labour market still isn’t as tight as it was pre-pandemic. We suspect employees are... 7th October 2022 · 3 mins read
Japan Data Response Bank of Japan Tankan (Q3 2022) Today’s Tankan survey suggests that while the services sector is benefitting from the subsiding virus wave, the outlook for the manufacturing sector continues to worsen. 3rd October 2022 · 3 mins read
Japan Economics Weekly Upcoming travel subsidies a flash in the inflation pan The government announced this week that it will once again be providing travel subsidies, this time under the National Travel Discount (NTD) program, from 11th October through December. Prefectural... 30th September 2022 · 7 mins read
Japan Data Response Labour Market, Retail Sales & Activity (Aug. 22) The unemployment rate dropped to a four-month low in August and a continued rise in the job-to-applicant ratio suggests that the labour market will continue to tighten. Meanwhile, both industrial... 30th September 2022 · 4 mins read
Japan Data Response Japan Flash PMIs (Sep. 2022) September’s flash PMIs indicate yet another slowdown in the manufacturing sector, while services appear to be recovering from the recent record virus wave. 26th September 2022 · 2 mins read
