There is GDP data due from Japan on Friday (Q2 preliminary) but for today its core machinery orders
The focus is on the GDP tomorrow, but the machine orders numbers are useful forward-looking indication of capital spending in the coming six to nine months. Note that this can be a very volatile data point, best to look at the y/y rather than the m/m.
2350 Japan Core Machinery Orders for June
- expected -1.0% m/m, prior -3.7%
- expected +10.5% y/y, prior +16.5%
May was a sharp decline m/m but that is expected to be unwound this month, or least eased back to down 1% from down 3.7%
The data is not expected to have too much immediate impact on yen.
