Japan Core Machinery Orders for December
The Government has rtasied its assessment on machinery orders in response to this better data.
A caveat with this data point each month is it is highly volatile. Still +11.8% y/y is good news. the data is indicative of capex 6 to 9 months ahead. By Eamonn Sheridan
Yen stops bleeding on strong data
February 17, 2021SharePrint
The Japanese yen is holding steady in the Wednesday session. Currently, USD/JPY is trading at 106.11, up 0.06% on the day.
Dollar takes pause at 106
It has been a rough week for the Japanese yen, which has lost 1.0 per cent. USD/JPY is particularly sensitive to US/Japan rate differentials, and this week’s rise in US 10-year and 30-year yields has boosted the pair. The dollar pushed the yen above the 106 level on Tuesday, for the first time since September 2020. The pair is on an uptrend and if US yields remain at current levels, the pair could put pressure on the 107 level in the coming sessions.