Japan adjusted Current Account undershoots expectations, ¥744.3B versus expected ¥1,018.9B
|Japan's Current Account came in below expectations, with the adjusted balance of trade printing at ¥744.3 billion compared to the ¥1.01 trillion forecast, an eleven-month low for the indicator.
Foreign Investment in Japanese Stocks also got pulled down, with foreign funds investment into Japanese equities declining to ¥308.4 billion compared to the previous period's ¥721 billion.
Market reaction
USD/JPY continues to trade tightly near the 148.00 price handle as markets gear up for Thursday's trading session.
About Japan's Current Account
The Current Account released by the Ministry of Finance is a net flow of current transactions, including goods, services, and interest payments into and out of Japan. A current account surplus indicates that the flow of capital into Japan exceeds the capital reduction. A current account deficit indicates that there is a net capital outflow from these sources. A high reading is seen as positive for the JPY, while a low reading is seen as negative.
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