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26 Aug 2014
Japan in focus, Abe coming up on Sep 3rd - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that Japan Prime Minister Abe is expected to announce a cabinet reshuffle next week (September 3).
Key Quotes
"It has already been tipped that Finance Minister Aso and Economic Minister Amari will retain their posts."
"Separately, the Japanese government kept is economic assessment generally unchanged, after raising it in July. Officials want to believe, as Kuroda demonstrated at Jackson Hole, that the impact of the sales tax hike is fading."
"However, a small tell that it is not as confident as it may appear was revealed in how it characterized industrial output. Previously, it said that industrial production had "weakened recently"."
"This time, it dropped the word "recently". We would not make a big deal about this, but it should raise the significance of Friday's industrial production report."
"A 1% rise is expected in July, and the risk is on the downside. Yet, even if the consensus is right, the year-over-year rate would fall into negative territory."
Key Quotes
"It has already been tipped that Finance Minister Aso and Economic Minister Amari will retain their posts."
"Separately, the Japanese government kept is economic assessment generally unchanged, after raising it in July. Officials want to believe, as Kuroda demonstrated at Jackson Hole, that the impact of the sales tax hike is fading."
"However, a small tell that it is not as confident as it may appear was revealed in how it characterized industrial output. Previously, it said that industrial production had "weakened recently"."
"This time, it dropped the word "recently". We would not make a big deal about this, but it should raise the significance of Friday's industrial production report."
"A 1% rise is expected in July, and the risk is on the downside. Yet, even if the consensus is right, the year-over-year rate would fall into negative territory."