Tuesday, September 7, 2010

Japanese Machine Orders

Japanese machinery orders rose for a second month in July as overseas demand encouraged investment by companies. Orders, an indicator of business investment in three to six months, rose 8.8 percent from June, when they increased 1.6 percent, the Cabinet Office said today in Tokyo. The median forecast of 25 economists surveyed by Bloomberg News was for a 2 percent gain.

I am short the JPY at these levels. I expect political instability to derail or at least correct the temporary risk aversion flows into the JPY. The Beige Book tomorrow ought to clarify the FED's stance on 'QE 2.'

Patrick M. Ambrus
Twitter: AnalyzeCapital

No comments:

Post a Comment

This Blog has been developed by Analyze Capital LLC, and as an independent organization we provide “AS IS” information without warranty. The ideas and opinions expressed by the contributers of this blog are personal and do not represent the actions or policies of Analyze Capital LLC. The contents of this blog do not intend to assert recommendations or to offer advice of any kind. We are not responsible the consequences, be they gains or losses, that may result from using any of the information from this blog.