Nikkei / Markit manufacturing PMI for Japan. This is the sneak peek 'preliminary', the 'final' will follow next week.

'Key findings' from Markit:

  • 52.2 in July is an 8 month low
  • Flash Manufacturing Output Index at 51.4 (52.2 in June). Weakest growth for 10 months
  • Export orders stagnate

Comment, Paul Smith, Senior Economist at IHS Markit:

  • "July's survey data indicated a further easing of growth in both orders and output from May's recent highs. The slowdown was driven by stagnation in export orders, amid reports of weaker demand from South East Asia markets.
  • Nonetheless, the sector continues to add jobs, with employment growth remaining amongst the best since the financial crisis, whilst optimism hit its highest level in five years of data collection."

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At 52.2 its down only marginally on the month. the data does not tend to move the FX much but is a useful indicator for the Japanese economy.