At 2350GMT we get monetary base figures from Japan for August. The BOJ is expanding the base as part of their easing operations, so a big increase is expected.

  • The monetary base for July (the prior) was +38% y/y to 173.3tln yen
  • Expectations for August are at +41.3%

Minimal impact on the yen is expected from this data point

Look at that expansion …

Japan monetary base expansion up to August 2013

Also, at 0130GMT we get Labor Cash earnings for July.

  • The prior was +0.6% (revised higher from+0.1% originally)
  • Forecast is for +0.8%
Japan labor cash earnings August 2013

The government wants to see earnings increase along with inflation to help try to get Japan out of deflation, as such this is an important release.