Japan's Cabinet Office released its consumer confidence index on Wednesday. The consumer confidence index declined to 42.5 in January from 42.7 in December, missing expectations for a rise to 43.8.

The decrease was driven by declines in 3 of 4 sub-indexes. The overall livelihood sub-index decreased to 40.9 in January from 41.1 in December, the income growth sub-index was down to 41.2 from 41.8, the employment sub-index fell to 45.8 from 46.3, while the willingness to buy durable goods sub-index rose to 42.0 from 41.6.