Asia Summary and Highlights 8 Dec
Japan Q3 annualized GDP revised lower to -2.3%
Labor Cash Earning 2.6% y/y
Asia Session
The Japan Q3 annualized GDP is revised lower to -2.3% from -1.8% in preliminary read. While it is no doubt a poor read, the silver lining seems to be private consumption was not revised lower. On the other side, the October labor cash earning is brighter at 2.6% y/y, improving from September and above 2%. USD/JPY is trading 0.11% lower at 155.16.
U.S. major equity indexes are beginning the week on an upbeat note while regional equities performing individually. The USD is trading broadly lower so far against majors. AUD/USD is trading 0.03% higher at 0.6643, NZD/USD is trading 0.09% higher while USD/CAD rises 0.04%. Else, EUR/USD is up 0.1% and GBP/USD is up 0.04%.