
At 01:30 (GMT+2), Japanese data on the household spending index for July will be released, reflecting the change in total consumer spending in families and serving as an important indicator of economic growth and inflation. The indicator may rise from –5.2% to 1.3% MoM and from 1.3% to 2.2% YoY, increasing the likelihood of the Bank of Japan maintaining a “hawkish” rhetoric and supporting the yen.

