Japanese Trade Balance data for May 2023
Trade balance is -1372.5bn yen
- prior was -432.3bn yen
Imports -9.9% y/y
- expected -10.3%, prior -2.3%)
Exports +0.6% y/y
- expected -1.2% prior +2.6%
Exports to China were -3.4% y/y
- to Asia -8.1%
- to the US +9.4%
- to the EU +16.6%
In other data, machinery orders for April +5.5% m/m
- expected +3%, prior -3.9%
and -5.9% y/y
- expected -8%, prior -3.5%
USD/JPY is barely changed after the data. What did move it overnight was the Federal Open Market Committee (FOMC):