Japan's economic outlook brightened somewhat after a report on Thursday showed that core machinery orders rose 13.4 percent in January, the fastest pace in almost a year. Orders had fallen 15.7 percent in December.
Economic data from Japan on Wednesday had been mixed though.
Big Japanese manufacturers grew more optimistic about business conditions in the January-March quarter as a government report on Wednesday showed that the business survey index rose to plus 12.5 from plus 9.7 in the previous quarter. However, the index for the April-June quarter showed a fall to minus 9.4.
Another report on Wednesday showed that Japan's tertiary industry index rose 0.9 percent in January after falling 0.4 percent in December.
However, the consumer confidence index fell to 38.3 in February from 40.5 in January. It was the third consecutive decline.
Meanwhile, in the euro area, a report on Wednesday showed that industrial production fell 0.2 percent in January. It had fallen 0.4 percent in December.
Still, confidence in the global economy has improved enough for central banks to start ending the easing trend.
New Zealand became the first developed economy to tighten monetary policy on Thursday when the Reserve Bank of New Zealand raised its official cash rate by 25 basis points to 2.75 percent.
“Inflation pressures are increasing and are expected to continue doing so over the next two years,” RBNZ Governor Graeme Wheeler said in a statement.
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