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.
Bloomberg.com
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
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