Japan output data argues for BOJ stay, sales for hike?
Nothing definitive from Japanese data today on what the BOJ will do
Overnight saw plenty of news, "leaks" on a possible BOJ hike
The Nikkei, national broadcaster NHK both tipped a possible move
Japan June industrial output -3.6% m/m, better than -4.8% eyed but weak
July output recovery seen, +6.5% eyed, August +0.7% and steady?
This may provide a foundation for BOJ hikes but maybe not just yet
June retail sales good again, +3.7% y/y, +3.2% eyed, tourist spending large
Domestic consumption also buoyant despite higher prices
In the end, BOJ will only move, or not, on inflation expectations
See nP8N3J001C, nP8N3J807B, on BOJ nL1N3JM026, nL1N3JM1KM
For more click on FXBUZ
Factory output contraction: https://tmsnrt.rs/3WIuOqZ
(Haruya Ida is a Reuters market analyst. The views expressed are his own)
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