Japan's GDP beats estimates

FXstreet.com (Barcelona) - Japan's 1Q GDP came above market expectations, registering annual growth at 3.5% vs 2.7% expected. On a quarterly basis, Japan's Q1 GDP stood at +0.9% vs 0.7%. In nominal terms, Japan Q1 nominal GDP rose to +0.4% q/q vs +0.5% expected. Japan Q1 preliminary GDP deflator came at -1.2% y/y vs -0.9% expected).

Foreign bond investment last week decreased to ¥186.4B vs ¥301.2B prior. Foreign investment in Japan stocks last week rose to ¥878.8B vs ¥-26.2B. According to David Scutt, Treasury Dealer at Arab Bank Australia, "the move out of JPY-denominated assets into foreign stocks & bonds last week should be JPY negative..."