Japan set to unveil $706 billion stimulus package – Bloomberg

As per the final draft of the Japanese stimulus package, seen by Bloomberg, the Tokyo leader Yoshihide Suga is set to announce details of 73.6 trillion yen ($707 billion) plan to combat the coronavirus (COVID-19) on Tuesday.

The report said, “The package will include around 40 trillion yen in fiscal measures, such as loans, investment and direct expenditure. The spending will be partly financed by 19.2 trillion yen from a third extra budget.”

The financial efforts are put forward amid the latest resurgence in the covid numbers at home. Even so, the package will be smaller than the previous two announcements that totaled 58 trillion yen, or 11.3% of the economy.

USD/JPY awaits further details, Japan Q3 GDP…

USD/JPY paid a little heed to the news while ticking up to 104.00. The reason could be traced to the pair traders’ cautious sentiment ahead of the actual announcement and final reading of the third quarter (Q3) Japan reading, expected to confirm 5.0% QoQ growth.