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We have a few important data points coming up over the next couple of days that could move JPY. Chief among them is retail sales and employment data. It’s only been a week since the last BOJ meeting, so data has a stronger impact on the markets.
Analysts will also be looking for confirmation that the data is panning out according to BOJ estimates. Changes from expectations would raise questions as to what the central bank can do to help prop up the world’s third-largest economy.
The Data and Trends
Tomorrow early in the morning, or today late at night if you are in the Americas, we get the release of Retail Sales data. Usually, it’s the monthly figure that moves the markets in the case of a discrepancy. The consensus of expectations is that May retail sales shrank by 0.6% compared to staying flat the prior month. This would bring annualized retail sales to just 0.6% growth.
Retail sales g...
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