Trade data from Japan, a headline miss but positives in there:

  • Trade balance for June: Y 439.9bn ... expected Y 488.0bn, prior was Y -204.2bn
  • Trade balance (adjusted) for June: Y 81.4bn ... expected Y 127.5bn, prior was Y 133.8bn
  • Exports for June 9.7%y/y: ... expected 9.5%, prior was 14.9%
  • Imports 15.5% y/y in June ... expected 14.4%, prior was 17.8%

Exports to:

  • USA, up 7.1% y/y
  • China, up 19.5% y/y
  • Asia +13.6% y/y
  • EU, up 9.6% y/y

More;

  • Exports for the month at +9.7% y/y for the 7th consecutive month of gains. External demand has been a solid driver of Japanese growth.