– Japan is scheduled to release a raft of data on Friday, highlighting a modest day for Asian economic news. On tap are May figures for current account, as well as June numbers for bank lending, money stock and the eco watchers survey.
The current account is expected to show a surplus of 306.0 billion yen following the 405.6 billion yen surplus in April. That translates to a 75.2 percent annual contraction after plunging 69.5 percent in the previous month. The adjusted current account is tipped to reflect a surplus of 215.0 billion yen, down from 546.3 billion yen a month earlier. The trade balance is forecast to show a deficit of 764.0 billion yen after posting a 417.5 billion yen shortfall in April.
Bank lending including trusts is expected to ease 0.5 percent on year after falling 0.7 percent in May. Little change is expected for the money stock figures, which saw M2 up an annual 2.7 percent in May and M3 up 2.1 percent. The eco watchers survey for current conditions is expected to show a score of 40, up from 36 in May. The outlook survey saw a score of 44.9 in the previous month.
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