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Prior was +1033.7B
Estimates ranged from +916B to +1528B
Trade balance -186.8B vs -450.3B expected

The trade numbers are a tailwind for the yen and will continue to be as it remains depressed.

Japan trade balance

Japan’s economy contracted in Q3 on covid disruptions in a sign that it will be long struggle to ever raise interest rates.

GDP annualized -3.6% vs -3.1% expected (first estimate was -3.0%)
Private consumption -1.3% vs -1.1% prelim
External demand 0.0% vs +0.1% prelim
Infl

The manufacturing Tankan from Reuters hit +22 from +13 a month ago in a climb to the best level in four months.

The non-manufacturing index rose to +6 from +1. That’s the best in 22-months but likely doesn’t fully capture the worries about omicron.

The yen is trading flat so far

Testing picked back up in South Africa yesterday, leading to a jump in cases but the percentage of positive cases ebbed slightly in what could be an encouraging sign.

23 Nov: 605
24 Nov: 1018
25 Nov : 1950
26 Nov : 2173
27 Nov : 2629
28 Nov : 2308
29 Nov : 1

USD/CAD remains on the back foot around 1.2650, following the heavy fall to refresh a two-week low. That said, the quote seesaws of late as Asian trad

As per the latest report from Reuters Tankan Survey, “Japanese manufacturers’ business confidence index rose to a four-month high in December as suppl

The update to the US Consumer Price Index (CPI) may prop up the price of gold as evidence of faster price growth pushes market participants to hedge against inflation.

The NZD/USD bounced off year-to-date lows, is rising as the Asian session begins, trading at 0.6789 during the day at the time of writing. On Tuesday

WTI crude oil prices ease from a weekly high to $71.50 after a two-day run-up, marking 0.40% intraday gains during early Wednesday morning in Asia. Th

The UK government is drawing up plans for a work-from-home order over Christmas as PM Boris Johnson hopes to slow the spread of omicron, according to the Telegraph.
Officials working on Covid policy have carried out modelling on the economic impact of urging people to work from home over t