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Forex pairs in this Article » USD/JPY (Barcelona) - Nomura economists are estimating a larger trade deficit in May, with the first rise in real exports for two months.

They write, “We have estimated May imports and exports, which are scheduled for release on 19 June, using the trade statistics for 1–20 May published by the MOF on 7 June and the corporate goods price index published by the BOJ on 12 June. We estimate a nominal trade deficit of ¥1,232.7bn.” On a seasonally adjusted basis, they estimate a deficit of ¥963.5bn, larger than the deficit of ¥764.4bn in April. Further, they estimate a 1.1% m-m increase in real exports, the first rise for two months.
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