Japanese data for machinery orders and PPI
November Machine orders
-5.1% m/m
- expected -1.4%, prior +4.1%
- largest decline since April 2016
- Not a positive sign for capex intentions (its regarded as an indicator of capital expenditure in the coming six to nine months)
+10.4% y/y
- expected % +8.1%, prior -5.6%
And PPI for December
0.6% m/m
- expected 0.4%, prior 0.4%
-1.2% y/y
- expected -1.4%, prior -2.2%