Japan May trade balance data shows big slump for imports y/y, small jump for exports | Forexlive

Japanese Trade Balance data for May 2023

Trade balance is -1372.5bn yen

• prior was -432.3bn yen

Imports -9.9% y/y

• expected -10.3%, prior -2.3%)

Exports +0.6% y/y

• expected -1.2% prior +2.6%

Exports to China were -3.4% y/y

• to Asia -8.1%
• to the US +9.4%
• to the EU +16.6%

In other data, machinery orders for April +5.5% m/m

• expected +3%, prior -3.9%

and -5.9% y/y

• expected -8%, prior -3.5%

USD/JPY is barely changed after the data. What did move it overnight was the Federal Open Market Committee (FOMC):