USD/JPY down a few ticks on the data.
While Japan’s December core machinery orders improved y/y there are a few caveats to note:
- the y/y at +4.3% was a miss on the consensus estimate of +6.9%
- the -1.2% m/m was a miss on the estimate also
Admittedly this is a volatile data series.
Its regarded as a leading indicator of capital spending in the coming six to nine months.
On the January trade figures:
Exports rose 7.2% y/y
- up for a fourth straight month
- but a miss on the +7.9% expected
Imports jumped +16.7% in January y/y
- easily beating the 9.7% increase expected