Final Friday of the month ... that must mean Japanese CPI data!

And there is plenty else on the calendar during the session (and beyond)

2145GMT - New Zealand - Building permits for August

  • prior for this volatile series was -10.5% m/m

2301GMT from the UK - GfK consumer confidence (September, expected -5, prior -7) and Lloyds Business Barometer (September, prior 16)

2330GMT- Japan - along with the CPI data we'll also get other data (for August):

  • Unemployment rate, expected 3%, prior 3%
  • Job to applicant ration, expected 1.37 and prior also 1.37
  • Overall household Spending y/y (yesterday's retail sales does not augur well for this), expected -2.1%, prior -0.5%

2330GMT - Japan CPI

  • National CPI y/y for August, expected is -0.5%, prior was -0.4%
  • National CPI y/y excluding Fresh Food for August, expected is -0.4%, prior was -0.5%
  • National CPI excluding Food, Energy y/y for August, expected is +0.2%, prior was +0.3%
  • Tokyo CPI y/y for September, expected is -0.5%, prior was -0.5% (Tokyo CPI data is available a month earlier than the National CPI)
  • Tokyo CPI excluding Fresh Food y/y for September, expected is -0.4%, prior was -0.4%
  • Tokyo CPI excluding Food, Energy y/y for September, expected is +0.1%, prior was +0.1%

A quick scan of those numbers will have you wondering when the 2% inflation goal will be reached .... not even close. This is a problem for the administration and Bank of Japan, dealing with the 'deflationary mindset' (and hard data, of course :-D). Maybe today we can get something though, we'll see.

NOTE - Looking a little ahead, the Bank of Japan's own measure of inflation will be released at 0500GMT. Excludes fresh food and energy.

  • expected 0.4%, prior 0.5%)

2350GMT Industrial Production

  • m/m for August (preliminary reading), expected is 0.5%, prior was -0.4%
  • Industrial Production y/y (preliminary), expected is +3.4%, prior was -4.2%

2350GMT - Bank of Japan 'Summary of Opinions' from the September policy meeting (The 'Summary' precedes the Minutes. Given the changes at the September meeting this will attract interest today).

0000GMT - New Zealand - ANZ Business Confidence and Activity Outlook for September

  • prior 15.5 and 33.7 respectively

0000GMT - Bank of Japan Governor Kuroda is speaking in Tokyo

  • I expect something like "Everything is awesome!" (as usual).
  • Kuroda speaking at an event with the Bank of Canada
  • Larry Summers will also be speaking

0100GMT - Australia - HIA New Home Sales for August, prior -9.7% m/m

0130GMT - Australia - Private Credit data for August

0145GMT - Caixin China Mau PMI for September

  • expected 50.1, prior 50.0