More on the strong machine orders data from Japan
A big beat for the data earlier from Japan, link here:
Commentary via Reuters: :
- Japan's core machinery orders unexpectedly rose
- a sign that capital spending is set to grow
- Japanese companies' capital expenditure plans remain strong for the current fiscal year, a Bank of Japan tankan survey showed last week
- trade war between the United States and China poses a risk to the outlook because it could indirectly reduce sales from China, making some Japanese manufacturers less likely to buy new equipment
- Japanese manufacturers are sensitive to developments in global trade because they export large numbers of machines and parts to China where they are used to make finished goods for the United States and other markets.
Yen is doing little so far this session, USD/JPY straddling 113 for much of it so far.