Japan Q2 BoJ Tankan likely to indicate an improving outlook

Japan starts its monthly data dump at the beginning of the week with key updates for retail sales, industrial output, housing starts, and the Q2 version of the Tankan report on manufacturing conditions due out

In the rest of Asia, data out of Japan should also show improvement, with positive growth prints for both industrial production and retail sales. 

At the same time, the Q2 BoJ Tankan survey is likely to indicate growing optimism on the part of large manufacturers, driven by still-low energy prices and improving operational profits. 

Some recovery in non-manufacturing sectors are expected to be seen due to booming tourism, which bodes well for local service sectors.