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Japan is printing tons of mid-tier reports this week! Which ones should you watch out for? Here’s a list!

Manufacturing-related data

  • With the September sales tax hike weighing on consumer sentiment, traders will look to manufacturing data to see if we should be more worried about Japan’s economy
  • Preliminary machine tool orders (Dec 10, 6:00 am GMT) fell by 37.4% in October, faster than the 35.5% decrease in September
  • BSI manufacturing index (December 10, 11:50 pm GMT) is expected to improve by 0.2% after falling by 0.2% in Q3 2019
  • Producer price index (December 10, 11:50 pm GMT) could stagnate in November after falling by 0.4% in October
  • Core machinery orders could gain 0.9% after slipping by 2.9% in October
  • Annualized core machinery orders (December 11, 11:50 pm GMT) is estimated at -1.0% after rising by 5.1% from a year ago in October
  • Quarterly Tankan manufacturing index (December 12, 11:50 pm GMT) could weaken from 5 to 3 in Q4 2019
  • Monthly industrial production (December 13, 4:30 am GMT) is expected to fall by another 4.1% after registering a 4.2% decrease in September

Market risk sentiment

  • Watch out for updates on the tariffs scheduled to take effect on December 15
  • White House economic adviser Larry Kudlow has warned that there’s no “arbitrary deadline” on a Phase One deal with China, and that Trump “would not hesitate to increase tariffs” if he’s not satisfied with the negotiations
  • In the U.K., Tories would need to win 326 seats to secure a majority
  • FOMC is expected to maintain its policies this week, but its dot plot and economic projections should get some attention

Technical snapshot

  • Stochastic marks JPY as “oversold” against CHF, NZD, and GBP on the daily time frame

  • Williams %R only flags JPY’s “oversold” status against GBP and NZD

  • JPY has been most volatile against NZD, AUD, GBP, and CAD in the last 30 days

Missed last week’s price action? Read JPY’s price recap for December 2 – 6!