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In March, Japan's core machinery orders went down short of expectations from last month. Moreover, financial analysts foresee a dip in investment over April-June. It definitely underscors the fragile nature of Japan’s export-driven economic revival.
However, market experts tell that the data, considered as highly volatile, actually offers no signals that there might be any key changes in a moderate, though broad-based uptrend in capital expenditure in the Japanese recovering economy.
Core orders, considered to be a leading indicator of capital spending in the coming 6-9months, tacked on 1.4% in March from last month, as Cabinet Office data revealed on Wednesday. The result marked a second straight surging month, though undershot the median market forecast for a 2.1% revenue.
Companies polled by the Cabinet Office foresee that core orders, excluding those for ships as well as from electric power utilities, would go down 5.9% in the April-June period, reacting to a 1.4% dip in the first quarter.
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The levels of retail sales and core retail sales for the US will be released on February 14 at 15:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
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