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1 Jul 2015
Japan: Massive CAPEX print in Tankan
FXStreet (Bali) - Massive CAPEX print of +9.3% vs 5.2% reuters poll and -1.2% prior in Japan's Tankan series.
Japan Tankan Large Manufacturing Outlook registered at 16 above expectations of 12, while Japan Tankan Large Manufacturing Index was also above forecasts at 15 vs 12. Japan Tankan Non - Manufacturing Index came in at 23, above expectations of 22, with Japan Tankan Non - Manufacturing Outlook at 21, below expectations of 23.
The data, while providing no stimulus to move the Japanese Yen, should be interpreted as a positive input for the currency fundamentally, as it represents an improved outlook for the economy, which could assist the case for a longer-than-expected neutral stance by the BOJ in QQE. As market conditions stand though, the Japanese Yen is presently being driven by sentiment, with any pick up in Greek risk headlines likely to have a positive impact on the Japanese currency.
Japan Tankan Large Manufacturing Outlook registered at 16 above expectations of 12, while Japan Tankan Large Manufacturing Index was also above forecasts at 15 vs 12. Japan Tankan Non - Manufacturing Index came in at 23, above expectations of 22, with Japan Tankan Non - Manufacturing Outlook at 21, below expectations of 23.
The data, while providing no stimulus to move the Japanese Yen, should be interpreted as a positive input for the currency fundamentally, as it represents an improved outlook for the economy, which could assist the case for a longer-than-expected neutral stance by the BOJ in QQE. As market conditions stand though, the Japanese Yen is presently being driven by sentiment, with any pick up in Greek risk headlines likely to have a positive impact on the Japanese currency.