Q2 BoJ Tankan likely to indicate an improving outlook

The data out of Japan should 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. 

"We expect to see some recovery in non-manufacturing sectors thanks to booming tourism, which bodes well for local service sectors.",says Standard Chartered.