Barclays Capital on the yen,
this via eFX
we expect December balance of payments (Wednesday) to print a surplus
of JPY894bn (consensus: JPY1.24trn), with a surplus of trade and primary
income offsetting a deficit in services, and we forecast December core
machinery orders (Thursday) to increase 1.2% m/m (consensus: 3.3%). In
terms of inflation data, we expect the corporate goods price index (PPI)
for January (Friday) to show another decline of 0.1% y/y (consensus:
0.0%), and the trend in the food component will be watched to see the
effect on CPI.