Trade Balance (JPY) comes in at -536.6B against -689.6B consensus
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
Japan’s Trade Balance for October 20, 2026, printed at -536.6B JPY. This figure came in better than the consensus expectation of -689.6B JPY, representing a 22.2% surprise. The previous month’s reading was -1105.6B JPY.
Following the release, market reactions in JPY pairs were generally subdued in the initial 15 minutes. USDJPY moved -1.7 pips, NZDJPY saw a -5.8 pip change, and CHFJPY moved -2.1 pips. AUDJPY registered a +1.5 pip move, CADJPY moved -0.1 pips, EURJPY moved -1.3 pips, and GBPJPY moved +0.6 pips. These measured moves are small when compared to the typical 1-hour median moves observed after past releases. For example, median 1-hour moves are 7 pips for USDJPY, 7 pips for NZDJPY, 6 pips for CHFJPY, 8 pips for AUDJPY, 4 pips for CADJPY, 6 pips for EURJPY, and 8 pips for GBPJPY. Top-quarter releases have historically seen larger moves, such as 11+ pips for USDJPY and 12+ pips for NZDJPY.