Machine orders (Core Machinery Orders) data from the Japan Cabinet Office

October Machine Orders +10.7% m/m,

  • expected -1.5%, prior +7.5%

Machinery Orders +10.3% y/y,

  • expected +0.6%, prior -1.7%

Another round of better data out of Japan and a positive input for the yen

More:

  • Japanese government raises it machinery orders assessment
  • Government says machinery orders showing pick up moves

This move higher for this segment of capex is a welcome positive for the Japanese administration and the BOJ. The likelihood of more BOJ stimulus is receding on data flow such as this.

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Also, money stock data out simultaneously:

  • M2 for November +3.3% y/y (expected +3.5, prior 3.6)
  • M3 for November +2.7% y/y (expected +2.8, prior +2.9)

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After the data there is little change on USD/JPY, its currently around 122.91