Adjusted Trade Balance (JPY) comes in at -686B against -361.6B consensus
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
Japan’s Adjusted Trade Balance for August was reported at -686 billion JPY. This figure came in significantly wider than the consensus expectation of -361.6 billion JPY, representing a -89.7% surprise against the forecast. The previous month’s reading was -881.9 billion JPY.
Following the release, JPY crosses showed varied and generally limited movement within the first 15 minutes. USDJPY moved -6.6 pips, while CHFJPY moved +5.4 pips. Other pairs saw smaller shifts, with AUDJPY up +0.7 pips, CADJPY down -0.1 pips, EURJPY up +1.2 pips, GBPJPY down -0.6 pips, and NZDJPY up +0.9 pips. These initial moves are generally smaller than the median 1-hour moves observed after past Adjusted Trade Balance releases, which typically range from 4 pips for CADJPY to 8 pips for AUDJPY and GBPJPY.