-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI INSIGHT: BOJ Vigilant Despite July Real Export Index Rise
Bank of Japan officials remain vigilant on the outlook for automobile exports and production due to parts shortages in Southeast Asia but await data later this month after gains in real exports in July, MNI understands.
The real export index likely rose 1.7% m/m in July for the second straight gain following +0.7% (revised from +0.5) in June. The July trade data did not include the impact of lockdowns in Thailand, Malaysia and Indonesia, with the data available in or after August.
The figures were calculated by MNI based on BOJ data and confirmed. The full July real export index data is due on Aug. 23.
However, bank officials are paying attention to the impact of the closure of plants that provide automobile parts caused by the spread of coronavirus in the Southeast Asian countries on auto production, see: MNI: BOJ Worried On Exports, Output On SE Asia Covid-19 Rates.
MONITORING TRENDS
In Japan as well, a state of emergency to combat the spread of Covid-19 variants has been extended and expanded.
But the BOJ has not revised the view that exports are likely to continue increasing firmly, supported by steady expansion in digital-related demand and the recovery in capital investment, both on a global basis.
Bank officials are monitoring industry feedback on production, with a key shortage of semiconductors used in automobile manufacture slated to ease in or after the third quarter.
JULY TRADE
Japan's exports rose 37.0% y/y in July for the fifth straight increase following +48.6% in June and imports rose 28.5% y/y for the sixth straight gain following +32.7% in June, according to data released this week.
Higher automobile, auto parts and iron and steel product shipments abroad were a factor in July's export gain. But the data also showed a slower pace in overall exports and auto parts from the previous month. The base effects of the last year when both exports and imports fell (-19.2% and -22.0% in July 2020, respectively) were also behind the rise in exports and imports in July.
Japan posted an overall trade surplus of JPY441.0 billion for the second straight surplus in July following a surplus of JPY383.9 billion in June.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.