Japan's Cabinet office with the machinery orders data - an indicator of capex (business investment) to come 6 to 9 months in the future
-11.9% m/m
- expected -2.0% m/m, prior +5.7%
-5.0% y/y
- expected +1.8% y/y, prior +4.1%
The government adds to the report that machinery orders are in recovery but fell sharply in December.
Yeah, we gathered that, thanks
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Such a slump in the data is a yen negative. It argues for continued BOJ easing policy ... but they are gonna do this anyway.
This is a very volatile data series, so bear that in mind.
USD/JPY continuing its slide
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