Japan current account surplus 1.508 trillion versus 1.395 trillion estimate

<ul><li>Prior was 1.862 trillion</li><li>The surplus was the fifth consecutive month with the trade balance showing a surplus.</li><li>The current account surplus for June was 1.51 trillion yen ($10.6 billion), a growth of about 1 trillion yen from June of the previous year. This surpassed the predicted surplus of 1.395 trillion yen from a Reuters survey.</li></ul><ul><li>Details:</li></ul><ul><li>The trade balance showed a surplus of 328 billion yen due to trade gains growing by 1.4 trillion yen year-on-year.</li><li>The primary income surplus reduced to 1.68 trillion yen, a drop of 167 billion yen from the same month the previous year.</li></ul><p>High energy costs and a weak yen have impacted Japan's economy over the past year, especially as it relies on imported fuel and raw materials.</p><p>The USDJPY is trading down 2 pips from the close yesterday. The price remains below it's 100 hour moving average 142.618. The current price is trading at 142.47. </p>

This article was written by Greg Michalowski at www.forexlive.com.