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Data from Cabinet Office of Japan. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Tankan Small Manufacturing Outlook climbed to -4 in October 2016
Cabinet Office of JapanMonthlyReleased December 2016
Japan Tankan Small Manufacturing Outlook climbed to -4 in October 2016, released December 2016, up 1 from September's -5 reading. The reading missed the -2 consensus by 2.
Latest Release
-4
Actual
-2
Consensus
-5
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▼ Inverse | −0.50 | FOREX | Bullish JPY | → View |
| EUR/JPY | ▼ Inverse | −0.45 | FOREX | Bullish JPY | → View |
| Nikkei 225 | ▲ Direct | +0.45 | INDEX | Bullish JP | → View |
| GBP/JPY | ▼ Inverse | −0.40 | FOREX | Bullish JPY | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Tankan Small Manufacturing Outlook (Japan) was reported at -4.00 in December 2016. This missed the market consensus of -2.00 by 2.00. The reading rose from the previous value of -5.00.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/JPY (Bullish JPY). A secondary relationship exists with EUR/JPY, negatively correlated (Bullish JPY).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Housing Starts YoY (May 28) and Unemployment Rate (May 28).
Auto-generated from current model state · Refreshes on each release · Last update December 2016.
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Tankan Small Manufacturing Outlook - JP
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About Tankan Small Manufacturing Outlook — Japan
DEFINITION
The Tankan Small Manufacturing Outlook is a key financial indicator that measures the sentiment and expectations of small manufacturing businesses in Japan. It provides valuable insights into the current and future economic conditions, as well as the overall business climate in the country. This indicator is closely monitored by investors, policymakers, and analysts as it can impact investment decisions and economic policies. The Tankan Small Manufacturing Outlook is considered a reliable and accurate gauge of the health of the Japanese economy and is an important tool for assessing the country's economic growth and stability.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2016): actual -4, consensus -2.
WHAT'S NEXT
This indicator correlates most strongly with USD/JPY (Bullish JPY, r=-0.50) — a useful reference for forex-focused traders.