Data release from Japan’s Finance Ministry, preliminary balance of payments statistics for May
BoP Current Account Balance for May, preliminary ¥ 1594.8B for a nice beat
- expected ¥ 1380.9B, prior ¥ 1707.4B
BoP Current Account Adjusted ¥ 1305.7B
- expected ¥ 1231.0B, prior ¥ 1600.1B
Trade Balance BoP Basis ¥ -650.9B
- expected ¥ -758.9B, prior ¥ -98.2B
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The background to this is shrinking exports due to economic growth slowing in China, trade wars impact. Japan has had a current account surplus for 58 straight months.