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1 Jul 2014
Japan data in focus, key Tankan coming up - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman looks ahead to the up coming Tankan survey's for Japan.
Key Quotes
"The collapse in Japan's overall household spending in May (-8.0% y/y vs. -2.3% expected after -4.6% in April) warns that the tax may be taking a large toll on consumption than expected. However, output does not appear to have been hit as hard."
"This may be the message from the Tankan survey and May industrial output figures due out in the days ahead. That said, sentiment among the large manufacturers is expected to have declined, snapping a five quarter advance."
Key Quotes
"The collapse in Japan's overall household spending in May (-8.0% y/y vs. -2.3% expected after -4.6% in April) warns that the tax may be taking a large toll on consumption than expected. However, output does not appear to have been hit as hard."
"This may be the message from the Tankan survey and May industrial output figures due out in the days ahead. That said, sentiment among the large manufacturers is expected to have declined, snapping a five quarter advance."