We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.48% 🇪🇺EUR: 0.07% 🇨🇦CAD: -0.01% 🇨🇭CHF: -0.06% 🇦🇺AUD: -0.16% 🇯🇵JPY: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BSgv4brAkS
  • Trade conflict is clearly awful for the broad world economy, but some countries are already benefiting from it. More stand to do so. Spotting them early could be profitable. Get your update on the #tradewar from @DavidCottleFX here: https://t.co/og0VAPAqwm https://t.co/eYpIISpKPe
  • Bundesbank says the slowdown of the German economy will probably continue in Q4, adding that the slowdown is unlikely to intensify markedly $EUR
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.15% US 500: 0.10% Germany 30: -0.14% France 40: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Px262wOzl2
  • LIVE IN 30 MIN: Join Analyst @nickcawley1 as he discusses the outlook for UK financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/614330707?CHID=9&QPID=917720
  • CFTC update - $CAD long liquidation begins with net longs cut for the first time in a month (Poloz speaking later this week) - $JPY selling persists - $NZD net shorts reduced https://www.dailyfx.com/forex/technical/article/cot/2019/11/18/US-Dollar-Selling-Reverses-AUD-Shorts-Surge-CAD-Selling-Begins----COT-Report.html?CHID=9&QPID=917713 https://t.co/Q1MUPvkOLE
  • Gold Rate May Dip Further – Bearish Signals on XAU/USD Price Chart More detauils in the link below: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2019/11/18/Gold-Rate-May-Dip-Further-Bearish-Signals-on-XAUUSD-Price-Chart-MK.html?CHID=9&QPID=917714 https://t.co/KieS0QNOse
  • Heads Up:🇪🇺 EUR Bundesbank Publishes Monthly Report due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-18
  • Tune in to @nickcawley1 's #webinar at 6:30 AM ET/11:30 AM GMT to prepare for key UK events and markets in the week ahead. Register here: https://t.co/xewSeUoDaT https://t.co/3G8H3URMTu
  • I guess it is convenient that RBA Governor Lowe will be talking about "unconventional monetary policy" next week https://t.co/FkKLWfZCYR RBA QE in 2020? $AUD https://t.co/d1plTA69sv
Japan's Manufacturing Activity, Spending Fall More Than Expected

Japan's Manufacturing Activity, Spending Fall More Than Expected

2016-04-01 02:55:00
Varun Jaitly, John Kicklighter,
Share:

Talking Points:

  • Q1 Business conditions Index for large manufacturers decreased to 6 from 12 prior
  • The amount of companies that believe business conditions are not favorable increased
  • Capital expenditures decreased by 0.9% versus an expected decrease of 0.7%

See how retail traders are positioning in USDJPY and the Yen crosses using the FXCM SSI readings on DailyFX's sentiment page.

Both USD/JPY and the Nikkei 225 fell in the wake of Japan’s first quarter Tankan manufacturing and capex data disappointed against already tempered expectations. The large manufacturing and non-manufacturing measures both fell short of expectations with readings of 6 and 22 respectively (against forecasts of 8 and 24, and previous readings of 12 and 25). The outlook measures – reflecting expectations for business conditions ahead – were equally disappointing. Factory industry firms posted a reading of 3 versus both a forecast and previous measure of 7. The service sector outlook unexpectedly dropped to 17 from 18 – it was expected to grow two points.

Amid a troubled forecast for the Japanese economy, business spending (referred to as ‘all industry capital expenditures (CAPEX)’ presented a worrying -0.9% contraction in quarter compared to the previous quarter’s 10.8% growth.

Similar to the ‘large’ industry figures, the small manufacturing and non-manufacturing measures came in lower than expected as well. Outlooks for the both factory and service based industries turned pessimistic with readings of -6 and -3 respectively (versus previous readings of -4 and 1).

The negative numbers weighed on both the local capital markets with the Nikkei stumbling while the USD/JPY would follow suit. While the weak data undermines Japanese growth forecasts, the Yen crosses have shown a sensitivity to ‘risk trends’ that frequently sees a strong correlation to equities and other return-oriented assets.

Japan's Manufacturing Activity, Spending Fall More Than Expected

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.