Japan’s exports rose 5.1 percent in April from a year earlier, above analyst forecasts in a Reuters poll for a 4.8 percent rise, data on Wednesday showed.
Imports rose an annual 3.4 percent versus forecasts for a 0.8 percent rise, while the trade balance stood at a deficit of 808.9 billion yen ($7.98 billion), much larger than expectations for a 646 billion yen deficit. Japan’s trade balance has been in a deficit for 22 months in a row now.
“The data was not really a surprise at all. They [Japan’s policy makers] were hoping for a lower yen to stimulate exports and a lower yen just isn’t coming,” said Boris Schlossberg, managing director at BK Asset Management.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.