Weak economic data pressurizing BoJ for imminent easing – SocGen

By FXStreet FXStreet (Delhi) – Kit Juckes, Research Analyst at Societe Generale, suggests that in Japan, a third consecutive month of falling core machinery orders (a 10.4% fall in orders ex-ships and utilities over 3 months), is going to add to concern about the economy and to pressure for more BOJ easing at the end of the month.

Key Quotes

“How the market reacts will tell us a lot about whether we’ve reached the limits of effectiveness of central bank asset purchases. My suspicion is firstly that failure to ct would send equities down and the yen up; and secondly that more QQE will have a very small impact. Those expecting the mere fact of a further delay to Fed tightening to properly revive the global risk rally should take note.”
For more information, read our latest forex news. …read more

Source:: FX Street