Back
12 Sep 2013
Flash: News from Japan was also disappointing, USD/JPY
FXstreet.com (London) - Research teams at BBH said News from Japan was also disappointing.
Key Quotes:
“July machine orders were expected to show a rebound from the 2.7% decline in June”.
“The Bloomberg consensus was for a 2.4% increase. Instead it came out flat. There had been a surge of 10.5% in May and the optimists argue that these two months are simply corrections to that outsized reading”.
“Optimists would point to the fact that the year-over-year rate improved to 6.5% from 4.9%. However, even they cannot be quite as confident about the outlook for capex. This component of the next Tankan survey (due October 1) will be important”.
Key Quotes:
“July machine orders were expected to show a rebound from the 2.7% decline in June”.
“The Bloomberg consensus was for a 2.4% increase. Instead it came out flat. There had been a surge of 10.5% in May and the optimists argue that these two months are simply corrections to that outsized reading”.
“Optimists would point to the fact that the year-over-year rate improved to 6.5% from 4.9%. However, even they cannot be quite as confident about the outlook for capex. This component of the next Tankan survey (due October 1) will be important”.