The Asia-Pacific trading week will kick off with Japan’s second-quarter gross domestic product (GDP). Japan is slated to release its preliminary Q2 GDP data, with analysts expecting the figure to cross the wires at 0.7% on an annualized basis, according to a Bloomberg survey. The island nation will avoid going into a technical recession if expectations prove correct after growth in the first quarter slipped 3.9%. However, the economic data is unlikely to change the calculus of the Yen, as is usually the case with domestic data. Instead, safe-haven flows will likely continue to be the currency’s price driver in the near term.
