Japanese trade data was mixed -- but there are some encouraging signs emerging

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Japanese trade data for June has come in mixed.

From a year earlier exports rose by 9.5%, an improvement on the 2.4% pace seen in May but below expectations for an increase of 10%.

On the other side of the ledger imports slipped 2.9%, better than the 8.7% decline recorded in May, and are forecast to contract 4%.

With imports beating and exports missing the trade balance recorded a deficit of ¥69 billion, well below expectations for a surplus of ¥5.4 billion.

While the export growth figure missed slightly to the downside, exports to China and the US rose by 5.9% and 17.6% respectively, up from 1.1% and 7.4% seen previously.

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