Japan - Labor Cash earnings for June: 0.4% y/y (expected -0.6%)

A beat for wage data from Japan

Labor Cash earnings for June +0.4% y/y

• expected -0.6% y/y, prior -0.5%

Real Cash earnings for June -0.5% y/y

• expected -1.5% y/y, prior -1.0%

The 'real' wage data - that's its 6th straight monthly drop despite beating estimates.