USDJPY Extends Losses After Japanese Machine Orders Crash

The following excerpt is from an article that originally appeared on Zero Hedge

It has not been a good week for Japan’s economic outlook as following last night’s dismal GDP print, tonight shows Japanese Machine Orders collapsed 11.9% MoM in December – the biggest crash since Japan raised the sales tax in May 2014…

Against expectations of a modest 2.0% drop (after November’s 5.7% rise, Machine Orders collapsed…

Foreign Orders cratered 13.2% led by manufacturers suffering a 13.3% MoM drop.

This drops Japanese Machine Orders back to practically unchanged since May 2013…

Now that’s stagnation!

 

The reaction is another leg lower in USDJPY…

Click here to Read this Entire Story on Zero Hedge


This post was originally published on this site
Comments are closed.