Japan May trade balance data shows big slump for imports y/y, small jump for exports

Japanese Trade Balance data for May 2023

Trade balance is -1372.5bn yen

• prior was -432.3bn yen

Imports -9.9% y/y

• expected -10.3%, prior -2.3%)

Exports +0.6% y/y

• expected -1.2% prior +2.6%

Exports to China were -3.4% y/y

• to Asia -8.1%
• to the US +9.4%
• to the EU +16.6%

In other data, machinery orders for April +5.5% m/m

• expected +3%, prior -3.9%

and -5.9% y/y

• expected -8%, prior -3.5%

USD/JPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term is barely changed after the data. What did move it overnight was the Federal Open Market Committee (FOMC):