Japan will release the first estimate of its GDP in the second quarter at 02:50 MT time on August 14.
The recent economic news from Japan was rather positive. In the first three months of 2017, the nation’s economy grew an annualized 1.0% for the longest stretch of gains in 11 years. Japanese exports rose in June for the seventh month in a row.
Low inflation makes the Bank of Japan stick to the extremely loose monetary policy, which is weakening the yen. However, if we see a positive surprise in Japanese GDP, the yen will strengthen somewhat. At the same time, lower growth will increase the negative pressure on the yen and help USD/JPY get higher. Either way, this day may present good opportunities for the yen traders!