In Japan several key figures were released overnight

Markets overnight In Japan several key figures were released overnight. The June report confirmed that the labour market continues to deteriorate, albeit at a slower pace. The unemployment rate in June increased from 5.2% to 5.4% (consensus: 5.3%). The decline in consumer prices in June accelerated to -1.7% y/y (consensus: -1.7%) from -1.1% y/y in the previous month underlining that deflation remains a major risk in Japan. Finally, manufacturing PMI in July increased to 50.4 from 48.2 in June