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13 Mar 2014
Flash: Japan data improvements - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted recent gains in Japanese data.
Key Quotes:
"Japan reported a much larger than expected jump in machine orders, a proxy for capital investment. The 13.4% increase in the month of January was nearly twice the consensus forecast and bodes well for Q1 growth, which is expected to show substantial improvement over the 0.2% pace recorded in both Q3 and Q4 13."
"Separately, the MOF reported that Japanese investors sold foreign bonds for the second consecutive week and have now fully offset the purchases in the previous two week. Foreign investors bought JPY384 bln of Japanese shares last week, the most for this year, so far."
Key Quotes:
"Japan reported a much larger than expected jump in machine orders, a proxy for capital investment. The 13.4% increase in the month of January was nearly twice the consensus forecast and bodes well for Q1 growth, which is expected to show substantial improvement over the 0.2% pace recorded in both Q3 and Q4 13."
"Separately, the MOF reported that Japanese investors sold foreign bonds for the second consecutive week and have now fully offset the purchases in the previous two week. Foreign investors bought JPY384 bln of Japanese shares last week, the most for this year, so far."