Economic data from Japan released earlier today showed that the country's unemployment rate ticked higher from 3.20% in January to 3.30% in February, missing forecasts of an unchanged print. Simultaneously, retail sales data showed a decline of -2.30% on a month over month basis in February, more than the 1.10% decline seen a month ago. On a year over year basis, Japanese retail sales managed to rise 0.50% above forecasts of 0.40% and reversing some of the contraction from January's 0.10% declines. The tepid data is being seen as a strong case for the BoJ to ramp up its QQE stimulus program in April.
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Daily Analysis - 29/03/2016