Asia Summary and Highlights 7 August
Japan June Household spending -6.4% m/m
Asia Session
The Japan June Household spending continues to fall by 3.3% y/y, a long consecutive fall and a scene not favorable by the BoJ. While real wage has been positive for most of 2026, consumers do not seem to be entertained to increase their spending at high price. If such persist, the BoJ may have a hard time justifying their future rate hikes. USD/JPY is trading 0.06% lower at 158.31. Short end JGB yields are refreshing highs.
The broader risk sentiment is indecisive as no one want to take any risky bets before the weekend on geopolitical tension. Major equity indexes are performing individually after Saudi's report of potential disruption in the region. AUD/USD is trading 0.0% lower at 0.7028. NZD/USD is trading 0.09% lower while USD/CAD rises 0.06% on slightly lower oil. Else, EUR/USD and GBP/USD are down 0.01%.