Japan’s core machinery orders for the month of August result: +0.2% month on month vs forecast of -1.0% (Prior was 6.3% month on month). This reflects a certain degree of resilience in capital spending even in the midst of economic pressure due to the pandemic. The core machinery orders is an indicator of capital spending.
Both the anti-risk USD and JPY were weaker this past week as a deal in stimulus package seem positive.
USD/JPY is continuing on Friday’s losses and moving towards a three weeks old support line near 105.50.
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