Contact Mace News President
Tony Mace tony@macenews.com
to find a customer- and markets-oriented brand of news coverage with a level of individualized service unique to the industry. A market participant told us he believes he has his own White House correspondent as Mace News provides breaking news and/or audio feeds, stories, savvy analysis, photos and headlines delivered how you want them. And more. And this is important because you won’t get it anywhere else. That’s MICRONEWS. We know how important to you are the short advisories on what’s coming up, whether briefings, statements, unexpected changes in schedules and calendars and anything else that piques our interest.
No matter the area being covered, the reporter is always only a telephone call or message away. We check with you frequently to see how we can improve. Have a question, need to be briefed via video or audio-only on a topic’s state of play, keep us on speed dial. See the list of interest areas we cover elsewhere
on this site.
—
You can have two weeks reduced price no-obligation trial for $199. No self-renewing contracts. Suspend, renew coverage at any time. Stay with a topic like trade while it’s hot and suspend coverage or switch coverage areas when it’s not. We serve customers one by one, 24/7.
—
Tony Mace was the top editorial executive for Market News
International for two decades.
Washington Bureau Chief Denny Gulino had the same title at Market News for 18 years.
Similar experience undergirds our service in Ottawa, London, Brussels and in Asia.
President
Mace News
D.C. Bureau Chief
Mace News
Federal Reserve
Mace News
Reporter and expert on the currency market.
Mace News
Reporter and expert on derivatives and fixed income markets.
Mace News
Financial Journalist
Mace News
Reporter, economic and political news.
Japan and Canada
Mace News
Consensus outlook for Mace News
Friday, Aug 21, 2026
0830 JST (2330 GMT/1930 EDT Thursday, Aug 20) The Ministry of Internal Affairs and Communications releases July CPI.
Mace News median: total CPI +1.9% y/y (range: +1.8% to +2.0%) vs. June revised down to +1.6% under new base year formula from +1.7%; core CPI (ex-fresh food) +1.8% y/y (range: +1.7% to +1.9%) vs. June +1.6%, unrevised under new formula; core-core CPI (ex-fresh food, energy) +1.9% y/y (range +1.8% to +2.0%) vs. June +1.7%, unrevised under new formula
By Chikafumi Hodo
TOKYO (MaceNews) – Japan’s nationwide core consumer price index (CPI), which excludes fresh food, is expected to accelerate further in July, along with two other key readings, as a general uptrend in prices stemming from rising import costs amid prolonged geopolitical tensions in the Middle East and the weaker yen continues to push up prices.
The government announced on August 7 that it had updated the CPI base year, shifting it to 2025 from 2020. It revises the base year every five years, with the change taking effect from the July figures. The update resulted in a minor 0.1 percentage-point downward adjustment to the total CPI for June 2026, while the core CPI, which excludes fresh food, and the core-core CPI, which excludes both fresh food and energy, were not revised.
Falling food prices and the government’s efforts to cap gasoline and utility prices are expected to ease some inflationary pressure, but the underlying upward trend in nationwide prices is seen strengthening in July. The forecast is in line with Tokyo CPI figures released on July 31, which already indicated an acceleration in consumer inflation in the capital.
The core CPI is expected to rise 1.8% on the year in July, accelerating from a 1.6% increase a month earlier. It rose just 1.4% in April and May, the lowest level since March 2022.
The nationwide CPI accelerated slightly in June as a smaller decline in gasoline prices and larger increases in other fuel prices limited the impact of continued moderation in processed food prices. Still, the increase remained below the Bank of Japan’s 2% inflation target as the government has been providing fuel subsidies since mid-March and free high school education took effect in April.
Tokyo CPI, which is a leading indicator of the nationwide trend, accelerated further in July, pushing the annual rate of core consumer inflation to a six-month high of 1.9%. Two other key measures, the headline CPI and core-core CPI, which excludes fresh food and energy, both climbed to 2.0%.
The two other key nationwide inflation measures in July are expected to follow the trend in Tokyo. The total CPI is seen rising 1.9% after a revised 1.6% increase in June under the new base year, down from the initial 1.7%. Core-core CPI is also expected to rise 1.9% in July, following a 1.7% increase in June.
Consensus outlook for Mace News
Thursday, Aug 20, 2026
0850 JST (2350 GMT/1950 EDT Wednesday, Aug 19) The Ministry of Finance releases July trade.
Mace News median: exports +21.2% y/y (range: +19.0% to +23.8%) vs. +19.3% in June; imports +26.5% y/y (range: +21.0% to +29.2%) vs. +25.4% in June; trade deficit ¥670.70 billion (range: a deficit of ¥708.80 billion to a deficit of ¥250.00 billion) vs. a revised ¥409.93 billion deficit in June from ¥406.9 billion deficit; ¥156.28 deficit in July 2025
By Chikafumi Hodo
TOKYO (MaceNews) – Japanese exports are projected to increase sharply in July, rising for an 11th straight month on the year and extending the recent upward trend on robust global demand for semiconductors, chipmaking equipment and automobiles. Imports are expected to grow for a sixth consecutive month as the resource-poor country scrambles to diversify its sources of oil purchases away from the Middle East, pushing up import costs.
Robust imports, also boosted by the yen’s weakness, are seen pushing the trade balance into a deficit for a third straight month in July, at 670.70 billion yen, following a deficit of 409.93 billion yen a month earlier.
Japanese exports are expected to remain resilient despite additional U.S. tariffs and ongoing deterioration in diplomatic relations with China, as exports to both countries climbed for the four months through June, with Japanese auto exports to the U.S. pointing to a strong recovery. Exports are seen rising 21.2% on the year in July after jumping a revised 19.3% a month earlier.
The value of exports in June climbed to the second-highest level on record at a revised 10.93 trillion yen, led by increases in automobiles, computer chips and non-ferrous metals. The gains were largely in line with recent trends, with demand from countries around the world boosted by projects involving the construction of data centers and other developments related to artificial intelligence.
Consensus outlook for Mace News
Wednesday, August 19, 2026
0850 JST (2350 GMT/1950 EDT Tuesday, August 18) The Cabinet Office releases June and April-June machinery orders.
Mace News median: core orders +8.6% m/m (range: +6.5% to +11.7%) vs. May -12.4%; +11.0% y/y (range: +8.9% to +15.1%) vs. May -1.9%
By Chikafumi Hodo
TOKYO (MaceNews) – Japan’s core machinery orders, a key leading indicator of business investment in equipment and software, are expected to rebound in June amid a growing global trend of building data centers and chipmaking facilities related to the development of artificial intelligence technology.
After an expected setback in May, core orders are forecast to rise 8.6% on the month in June, following a 12.4% drop in May. The May order amount fell to a six-month low of 962.0 billion yen after an unexpected increase in April, when orders rose 8.7% to a record high of 1.099 trillion yen.
The May decline was led by lower orders for engines from shipyards, as well as cranes and conveyors from general machinery makers and mining firms. Orders for computers also pulled back at electrical equipment producers, general machinery makers and transport firms.
The three-month moving average fell 4.8% in May, but the Cabinet Office maintained its assessment that machinery orders are “showing signs of a pickup.” On a year-on-year basis, core machinery orders are also expected to rebound, rising 11.0% in June after falling 1.9% in May, the first decline in six months.
For the April-June period, core machinery orders are projected to post a modest 0.1% quarter-on-quarter decline, following a 6.4% rise in January-March. The official projection for the second quarter was a 0.3% increase.
Friday, Aug 7, 20260830 JST (2350 GMT/1930 EDT Thursday, Aug 6) The Ministry of Internal Affairs and Communications releases the June average household spending.Mace News
–ISM’s Spence: Sentiment Trending Up in Right Direction; Slower Deliveries Could Get Worse but Orders Still Flowing By Max Sato (MaceNews) – U.S. manufacturing activity
By Max Sato (MaceNews) – Market participants are watching whether Japan’s currency intervention last week will have any lasting effect on keeping dollar bulls at
– Modest Tightening Now Would Avoid Having to Move Aggressively Later, Kashjari and Logan Argue By Steven K. Beckner (MaceNews) – The three Federal Reserve
– Warsh Welcomes Rising Bond Yields as Aiding Fed Inflation Fight – Warsh Downplays Dissents; Says Committee United on ‘Delivering’ 2% Inflation By Steven K.
WASHINGTON (MaceNews) – The following is a rough transcript of Federal Reserve Chair Kevin Warsh’s answers to reporters’ questions after the Federal Open Market Committee’s
Friday, July 31, 2026 0830 JST (2330 GMT/1930 EDT Thursday, July 30) The Ministry of Internal Affairs and Communications releases July Tokyo CPI.Mace News median:
WASHINGTON (MaceNews) – The following is the text of the Federal Open Market Committee policy statement issued a short time ago Wednesday afternoon:The Federal Open
Contact Mace News President
Tony Mace tony@macenews.com
to find a customer- and markets-oriented brand of news coverage with a level of individualized service unique to the industry. A market participant told us he believes he has his own White House correspondent as Mace News provides breaking news and/or audio feeds, stories, savvy analysis, photos and headlines delivered how you want them. And more. And this is important because you won’t get it anywhere else. That’s MICRONEWS. We know how important to you are the short advisories on what’s coming up, whether briefings, statements, unexpected changes in schedules and calendars and anything else that piques our interest.
No matter the area being covered, the reporter is always only a telephone call or message away. We check with you frequently to see how we can improve. Have a question, need to be briefed via video or audio-only on a topic’s state of play, keep us on speed dial. See the list of interest areas we cover elsewhere
on this site.
—
You can have two weeks reduced price no-obligation trial for $199. No self-renewing contracts. Suspend, renew coverage at any time. Stay with a topic like trade while its hot and suspend coverage or switch coverage areas when it’s not. We serve customers one by one 24/7.
—
Tony Mace was the top editorial executive for Market News International for two decades.
Washington Bureau Chief Denny Gulino had the same title at Market News for 18 years.
Similar experience undergirds our service in Ottawa, London, Brussels and in Asia.
