Japan finance minister Aso says the government wants to secure the economy’s recovery trend

The finance minister’s comments are in relation to the poor industrial production data release earlier:

Aso speaking on the upcoming extra budget. 

He is refusing to answer questions on why he was kicked out of the band ‘Men Without Hats’ although I think I might know.

The finance minister's comments are in relation to the poor industrial production data release earlier:

Data also out from Japan today:

ForexLive

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed

Japan Sept. household spending seen jumping ahead of sales tax hike: Reuters poll

TOKYO (Reuters) – Japan’s household spending likely rose at the fastest pace in nearly 20 years in September, a Reuters poll found on Friday, as shoppers rushed to buy goods ahead of a sales tax hike in October.

Household spending was seen rising 7.8% in September from a year earlier, the poll of 14 economists showed, the fastest pace since comparable data from 2001.

Spending had spiked 7.2% in March 2014, a month ahead of the previous sales tax increase, but then fell sharply and did not return to growth for more than a year.

“Retail sales data has shown there was rush demand for luxury goods, electrical appliances, cosmetics and alcohol,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“The focus will be on when subsequent falls in household spending after the tax hike will wane.”

Japan rolled out a twice-delayed increase in the sales tax to 10% from 8% on Oct. 1, a move seen as critical for fixing the country’s tattered finances but that could tip the economy into recession by dampening consumer sentiment.

Retail sales grew at the strongest pace in 5-1/2 years in September as consumers rushed to buy big-ticket items to beat the tax hike.

The government will announce household spending data at 8:30 a.m. Japan time on Nov. 8 (2330 GMT, Nov. 7).

The Bank of Japan kept monetary policy steady on Thursday as expected but gave the strongest signal to date that it may cut interest rates in the near future, underscoring its concern that overseas risks could derail a fragile economic recovery.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)

Economy News

Moody’s on Japan – A1 rating affirmed, stable outlook maintained

Moody’s on Japan – A1 rating affirmed, stable outlook maintained

Moody’s affirms Japan’s A1 ratings; maintains stable outlook

  •  says expects Japan’s fiscal and debt metrics to stabilize in the next few years
  •  says Japan’s sovereign rating and outlook continue to be driven over medium term by impact of social considerations on economy and public finances
  •  says traction on economic reform likely to partly offset pressure on potential growth from population decline
  •  says expects Japan’s trend of fiscal deficit consolidation to resume

ForexLive

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed

Riding the rails: How the U.S. lags far behind Japan

This morning we’re introducing a special four-part series of reports called “World of Motion.” A team of CBS News correspondents traveled around the world to Japan, Greece, Southern Africa and Scotland to discover how and why people are on the move.


The daily commute can be a chore no matter where you live, but some definitely have it better than others. In a friendly competition of traveling by train, correspondent Ramy Inocencio rode the rails in Japan, while “CBS This Morning” co-host Michelle Miller boarded trains here in the U.S., to see how American ingenuity stacks up to Japanese efficiency.

New York: Rush hour in New York City is a daily challenge for its commuters who, like most Americans, tend to rely on cars as their main source of transportation – this despite the city having the country’s largest subway system, spanning more than 665 miles and carrying over 5.6 million passengers per year.

Tokyo: The city’s population is 14 million, and a third of them take to the rails each day. And here’s something that might be surprising to Americans: people politely line up here for trains that arrive on time, nearly every time.

New York: At Times Square Station, New York’s busiest, people might be surprised to know there’s a schedule at all. As for lining up? Fuggedaboutit!

Tokyo: Here, stations aren’t just places to catch a train; they’re also destinations to get a gourmet meal.

New York: The dining choices underground in NYC aren’t as good, but you are never too far from a slice of pizza (as the infamous Pizza Rat can attest to).

Tokyo: It’s rare to see a rodent here, but it definitely is a rat race. Guinness World Records says Tokyo’s Shinjuku Station is the busiest in the world – and it’s clean!

New York: Sure, these trains and stations could use a bit more attention, but despite all of that and the delays, this subway runs 24 hours a day.

Tokyo: Subway service in Tokyo ends at around midnight, and restarts around 5 a.m. That lets crews tend to station maintenance. 

New York: No matter what time you ride or how far the trip, the fare in New York is the same: $ 2.75.

Tokyo: Prices here vary depending on how far you go. But it’s time, not cost, that matters most to rail passengers in Japan. The bullet train (the Shinkansen) is still the world’s most reliable form of public transportation. Inocencio boarded the train for a trip to Kyoto, 319 miles away.

New York: Miller boarded Amtrak’s high-speed rail, the Acela, from New York to Washington, D.C., which is about 225 miles. (That gives her a nearly 100-mile head start!)

trains-us-amtrak-acela-vs-japanese-shinkansen.jpg
Amtrak’s high-speed Acela, and the Japanese bullet train, the Shinkensen. CBS News

Tokyo: The Shinkansen is the world’s most reliable high-speed train service, and is super-fast, with an average speed of 177 miles per hour on this line.

New York: The Acela only averages about 82 miles per hour. Part of the reason for that is it shares its tracks with both local lines and freight trains. 

Tokyo: Inocencio made it to Kyoto right on time, the trip taking two hours and eighteen minutes.

New York: Miller, meanwhile, will arrive in D.C. about 40 minutes later, if they stay on schedule. (Amtrak doesn’t twenty percent of the time). Amtrak is promising some upgrades that should shave 15 minutes off of the commute by 2021.

To recap, Inocencio rode a train about 100 miles farther and completed that trip roughly 40 minutes sooner.  So, when it comes to traveling by train, Americans are far behind our friends in Japan.

© 2019 CBS Interactive Inc. All Rights Reserved.

Let’s block ads! (Why?)

World – CBSNews.com

Japan Jibun Bank/Markit PMIs September: final Services 52.8 and Composite 51.5

Japan PMIs, better for services than manufacturing 

And manufacturing here;

Joe Hayes, Economist at IHS Markit: 

  • “The service sector continued to be the driving force behind any economic expansion in Japan as we approach the year-end. It’s looking like a decent quarter of growth is going to be recorded in advance of the sales tax hike, with the PMI for the third quarter pointing to annual GDP growth of around 1%. 
  • “That said, forward-looking indicators from the services survey suggest that some cracks are beginning to appear. New order growth was weaker than the average in the year-to-date, which comes as a surprise given there has been no real surge of advance purchasing ahead of the scheduled tax rise next month. Furthermore, employment growth was muted amid reports of retirements. 
  • “The alarming divergence between manufacturing and services, something which is apparent across many advanced economies, remains at large in Japan. However, underwhelming new business growth suggests that downside risks in the service sector are appearing.”

USD/JPY has been a little bit weaker on the session so far, back toward, and under, its overnight low in a small range:

Japan PMIs, better for services than manufacturing 

ForexLive

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed

U.S., Japan agree on sectors to include in trade talks: Motegi

WASHINGTON (Reuters) – The United States and Japan have agreed on the sectors that should be included in bilateral trade negotiations, and are ready to move to detailed, working-level talks, Japanese Economy Minister Toshimitsu Motegi said on Friday.

Motegi, speaking to reporters following the conclusion of a third day of meetings with his counterpart, U.S. Trade Representative Robert Lighthizer, said details on the method and timeline of those negotiations would be discussed over the weekend at a Group of Seven leaders summit in Biarritz, France.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)

Economy News

Japan June all industry activity index -0.8% vs -0.8% m/m expected

Latest data released by METI – 22 August 2019

  • Prior +0.3%; revised to +0.5%

ForexLive

Slight delay in the release by the source. The data is often referred to as the monthly GDP reading, it’s a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend.

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed

Japan media reports the G7 summit this weekend may end acrimoniously due to trade dispute

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed

Japan May all industry activity index +0.3% vs +0.3% m/m expected

Latest data released by METI – 19 July 2019

Japan all industry
  • Prior +0.9%; revised to +0.8%

ForexLive

Slight delay in the release by the source. The data is often referred to as the monthly GDP reading, it’s a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend.

Despite some sluggish trade data over the past few months, the readings in April and May (today) suggests that there are some improvements in the Japanese economy in Q2. That will provide lawmakers and policymakers with some relief but they’re not likely to be able to escape the more sour outlook surrounding the global economy as of late.

USD/JPY holds at session highs near 107.60 currently with the dollar still a little bid alongside higher Treasury yields on the session.

Let’s block ads! (Why?)

Forexlive RSS Breaking news feed