A batch of data is released from Japan today. Tokyo CPI slowed to 0.6% yoy in April, down from 0.8% yoy and missed expected of 0.8% yoy. Industrial production rose 1.2% mom in March, well above expectation of 0.5% mom. Retail sales rose 1.0% yoy in March, below expectation of 1.5% yoy. Unemployment rate was unchanged at 2.5%.
JPY showed little reaction to the set of mixed data and recovers broadly today.
While JPY remains the third weakest for the week, today’s recovery can be attributed to the retreat in US yields. 10 year yield closed down -0.034 at 2.990 overnight. back below 3% handle.
BoJ will announce rate decision today and there is no expectation of any changes. Here are some previews:
