Japan will release its November Consumer Price Index Friday, but weak global commodity prices are expected to weigh on the headline inflation index, which is expected by analysts to fall year on year for the fifth consecutive month.
A Reuters poll expects core consumer inflation will be flat from a year earlier, and that lower oil prices will weigh on the Bank of Japan's ability to meet its 2 percent inflation target.
The unemployment rate is forecast to tick up slightly on Friday, after last month's surprising decline to 3.1 percent. However Moody's Analytics cautions that "the good headline figure masks underlying issues in Japan's labor market, including tepid wage growth and a declining working-age population."
Japan's Household Expenditures Survey, while falling year on year, is also expected to be an improvement from the previous month's decline. Recent plans of government spending and further BOJ easing will give consumer sentiment a boost, and support household expenditures.
Lastly, Japanese housing is also expected to show an improvement from last month's 2.5 percent decline. However, investment housing demand is expected to wane without further monetary easing or substantial wage growth.
Trading will be shut on Wednesday, as the nation celebrates the Japanese Emperor's 82nd birthday.