Plenty of data due from Japan today – CPI, industrial production via ForexLive

Plenty of data due from Japan today, CPI, employment, and industrial production.

First up, and this is all due at 2330GMT, not 2350 as we normally get from Tokyo …

• Overall Household Spending y/y for December, expected is -2.3%, prior was -2.5%
• Jobless Rate for December, expected is 3.5%, prior was 3.5%
• Job-To-Applicant Ratio for December, expected is 1.12, prior was 1.12

 Inflation data:

• National CPI y/y for December, expected is 2.3%, prior was 2.4%
• National CPI y/y excluding Fresh Food for December, expected is 2.6%, prior was 2.7%
• National CPI excluding Food, Energy y/y for December, expected is 2.1%, prior was 2.1%
• Tokyo CPI y/y for January, expected is 2.2%, prior was 2.1% (yep, December – we get the January data more quickly than the ‘National' data)
• Tokyo CPI excluding Fresh Food y/y for January, expected is 2.2%, prior was 2.3%
• Tokyo CPI excluding Food, Energy y/y for January, expected is 1.8%, prior was 1.8%–

Then, 20 minutes later, at 2350GMT

Industrial Production m/m for December (preliminary reading),

• expected 1.2%, prior was -0.5%

Industrial Production y/y for December (preliminary),

• expected 0.3%, prior was -3.7%

–

The pressure on the Bank of Japan to achieve the 2% inflation goal in 2 years is reducing:

• Prime Minister Shinzo Abe 's administration is dialing down its pressure on the Bank of Japan to do whatever it takes to generate stable inflation quickly.
• The shift in the government's position reflects the growing realization that more time will be needed to overcome deflation when plunging oil prices are putting downward pressure on inflation around the world.

More at the Wall Street Journal (gated): Tokyo Eases Inflation Pressure on BOJ,

And I did a bit of summary of it here

posted via ForexLive