Japan's Core Machinery Orders y/y reflect the volume of new orders received by Japanese machinery companies in a given month compared to the same month of the previous year. Shipbuilding and energy complex enterprises are excluded from the calculation due to the high volatility of orders for their products.
This is an important indicator of investment and is a major indicator of manufacturing production. It allows understanding the trend in capital investments, as each company is registered at the stage where the machine for the capital investment is ordered from the machine manufacturer.
Core Machinery Orders are considered an indicator six to nine months ahead of actual capital investment. This index shows the increase in domestic demand for durable goods and the means of production.
Higher than expected values are treated as positive/bullish for JPY. Values lower than expected are treated as negative/bearish for JPY. However, since there is a considerable shift in the monthly movement, it is necessary to devise a quarterly basis when analyzing.
The chart of the entire available history of the "Japan Core Machinery Orders y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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