FXStreet (Delhi) – Research Team at BBH, suggest that the traders will be keenly awaiting the Tankan survey, which is out first thing in Tokyo on Thursday.
Key Quotes
“Sentiment is expected to have deteriorated across the board, and capex plans pared. Friday sees employment data. The unexpected weakness in today’s data (leaving aside housing starts, which rose 8.8% year-over-year and beat expectations for a 7.6% pace) has spurred concerns that Japan’s economy may have contracted for the second consecutive quarter. We note in every year since 2005, Japan has experienced at least one quarter per year of contraction. In four years, there were at least two quarters of negative growth.”
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