Japanese trade and capex-indicative data (machine orders data are a leading indicator of capital spending in the coming six to nine months. It’s a volatile data set.):
Further on the trade data:
- Exports to China -2.4% year/year
-
Exports to Asia +4.5%
year/year - Exports to US +8.8% year/year
-
Exports to EU
+19.6% year/year
The exports numbers are a sign of strength for Japanese industry, a very welcome one. The low yen is a support factor for exports. On the other hand, the low yen appears to be capping imports. November imports improved from October but missed estimates.
—
As I said earlier, the Bank of Japan will begin its two day meeting tomorrow, Thursday, December 18, 2025. On Friday we’ll get the statement followed by Bank of Japan Governor Ueda’s press conference:
- the statement is expected some time in the 0230 to 0330 GMT time window (this is 2230 – 2330 US Eastern time). The BoJ do not have a set scheduled time for the release;
- Bank of Japan Governor Ueda’s press conference will follow at 0630 GMT (this is 0130 US Eastern time).
A 25bp interest rate rise is widely expected, from 0.5% to 0.75%.
This article was written by Eamonn Sheridan at investinglive.com.