Japan Jibun June preliminary Manufacturing PMI 49.8 (prior 50.6)

Japan flash Manufacturing PMI for June 2023

Comes in back in contraction at 49.8

• prior 50.6

Services PMI preliminary is 54.2

• prior 55.9

We had inflation data from Japan earlier:

• Japan CPI for May, headline 3.2% y/y vs. 3.5% prior

Other:

• After the over 100+ point up in USDJPY overnight be on the alert for intervention comments
• The inflation data from Japan today is going to reignite speculation of BOJ policy change