Japan’s Core Machinery Orders Decline for Fourth Consecutive Month in October

Data released by the Cabinet Office reveals that core machinery orders in Japan registered a surprising monthly decline in October. Japan’s core machinery orders declined by 0.6% during October for the fourth consecutive month on account of the US-China trade war weighing heavily on its manufacturing sector. Economists were expecting the figure to increase by 0.9% instead.

Core orders excluding ships and electricity declined by 6.1% YoY during October while economists had forecast a 1.8% decline instead. Japan’s export oriented economy and manufacturing sector have suffered severely as a result of the ongoing trade war between the US and China as China is one of its leading trade partners.

Core machinery orders is a highly volatile economic data to follow but offers key insight into the state of capital spending in an economy. On the release of this news, the Japanese yen has weakened slightly against the US dollar. At the time of writing, USD/JPY is trading somewhat bullish at around 108.57 despite a weakness in the dollar.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments