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17 Mar 2014
Flash: Japanese trade deficit could be reverted - BBH
FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, expects February's trade balance in Japan to show improved figures.
Key Quotes
"Japan is likely to report a marked improvement in its February trade balance. The January trade shortfall was JPY2.79 trln."
"It was likely distorted by seasonal factors and the Lunar New Year. The consensus for the February deficit is near JPY602 bln."
"This probably understates the real size of the Japanese monthly trade deficit. The 12-month average is near JPY820 bln."
"At the same time, a seasonal improvement in investment income suggests a trade deficit this size may not fuel a current account deficit. The streak of four consecutive monthly current account deficits may come to an end when the February balance is reported in early April."
Key Quotes
"Japan is likely to report a marked improvement in its February trade balance. The January trade shortfall was JPY2.79 trln."
"It was likely distorted by seasonal factors and the Lunar New Year. The consensus for the February deficit is near JPY602 bln."
"This probably understates the real size of the Japanese monthly trade deficit. The 12-month average is near JPY820 bln."
"At the same time, a seasonal improvement in investment income suggests a trade deficit this size may not fuel a current account deficit. The streak of four consecutive monthly current account deficits may come to an end when the February balance is reported in early April."