More Japanese data, this time its Retail sales for February
A big beat at +3.1% m/m
expected 0.8% m/m, prior -1.7%
-1.5 % y/y also a beat
expected -2.8% y/y, prior -2.4%
Japan was in the midst of a state of emergency in Tokyo and surrounds - despite this retail has performed strongly. The emergency declaration has since ended so logic would dictate the March figure will be strong also. I am not sure expecting logic from data is a reliable tactic though!