Japanese Household Spending YoY (Nov) Y/Y 2.9% vs. Exp. -0.9% (Prev. -3.0%)
Japanese household spending growth came in significantly stronger than expected at 2.9% year-on-year, compared to a consensus expectation of a -0.9% decline.
US President Trump posts that data shows the US has the lowest trade deficit since 2009, and is going even lower, adds GDP is predicted to come in at over 5%, and success of the country is due to tariffs
PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Fast Retailing (9983 JT) Q1 (JPY) net 147.5bln (prev. 131.9bln Y/Y), rev. 1.03tln (prev. 895bln Y/Y), sees FY net rising 4% Y/Y to 450bln (exp. 445.4bln) and FY rev. rising 12% Y/Y to 3.8tln
Japanese Household Spending YoY (Nov) Y/Y 2.9% vs. Exp. -0.9% (Prev. -3.0%)
Indonesian Motorbike Sales YoY (Dec) Y/Y 14.5% vs. Exp. 3.6% (Prev. 2.1% )
[MARKET UPDATE] ASX 200 is on the front foot with gains of 0.3% in early trade, although Rio Tinto shares slipped more than 6% following confirmation of merger talks with Glencore (GLEN)
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This robust print suggests an improvement in consumer sentiment and demand, which could have positive implications for economic growth and may influence monetary policy direction in Japan. Overall, this data may provide support for commodities, particularly those tied to consumer spending.
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