Today we get the results of the Bank of Japan's Tankan Survey. Its a survey of manufacturing and service companies designed to assess business conditions in Japan.
- The BOJ Tankan is conducted quarterly.
- Its due at 2350GMT
Bank of Japan (BOJ) Tankan report for Q4:
- Tankan Large Mfg Index: expected is 11, prior was 12
- Tankan Large Mfg Outlook: expected is 11, prior was 10
- Tankan Large Non-Mfg Index: expected is 23, prior was 25
- Tankan Large Non-Mfg Outlook: expected is 22, prior was 19
- Tankan Large All Industry Capex: expected is +10.2%, prior was +10.9%
- Tankan Small Mfg Index: expected is -1, prior was 0
- Tankan Small Mfg Outlook: expected is -2, prior was -2
- Tankan Small Non-Mfg Index: expected is 2, prior was 3
- Tankan Small Non-Mfg Outlook: expected is , prior was 1
The results today are expected on the whole to be subdued. Japanese business confidence is tenuous, with both slow domestic demand and concerns over China weighing. A brighter spot should be in the capex plans, which while they are expected to be below those of the previous quarter are nevertheless growing at a reasonable clip. Machine orders data has surprised to the topside already this month.
0430GMT - Industrial production for October (final)
- For the m/m, the preliminary reading came in at +1.4%, prior was +1.1%
- For the y/y, preliminary was -1.4%, prior was -0.8%
These revised industrial production figures will be a focus also, any surprise to the topside from the preliminary release will be a yen positive while a downside miss will weigh on the yen yet again.
Also at 0430GMT
- Capacity utilization for October, prior was 1.5%
- Tertiary Industry index (this indicates the value of purchases of services by businesses) for October, expected is +0.5% and prior was -0.4%