A BoJ official explained that the March Tankan shows CAPEX remains solid but need to see how coronavirus may impact CAPEX in June Tankan.
Key notes
Companies’ CAPEX plans for fiscal 2020 may be slashed in June Tankan survey depending on degree of damage from coronavirus
Sentiment among big firms in hotel sector hit worst level since March 2004.
Roughly 70% of replies from firms surveyed in Tankan were collected by March 11.
Big manufacturers sentiment worsened at fastest rate since Dec 2012, big nonmanufacturers index fell at fastest pace since March 2009.
Big car manufacturers index at lowest level since June 2011, big ship manufacturers index at lowest level since March 2004, due to broad effects from coronavirus.
USD/JPY update
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USD/JPY trading heavy in a risk-off environment, bulls heads to be sliced off
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