img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

“Flash-Crash” Courtesy of Mrs Watanabe | ISM Manufacturing Data in Focus

Published January 3, 2019
  • In the early hours of trading in Asia, the yen jumped almost 8% against the Australian dollar and 10% against the Turkish lira. The haven asset has strengthened against all its major counterparts over the past 12 months as concerns over global economic growth mounted. USD/JPY is currently trading at 107.65.
  • Later today, the new US Congress will be sworn in as the Democrats take control of the chamber. Top of the agenda will be finding a solution to the ongoing government shutdown which is currently in its 13th day. Negotiations are scheduled to resume this Friday.
  • US ISM manufacturing data is expected to edge lower in a report published today for the December readings. This comes at a time where broader weakness across regional reports have occurred, including recent negative data on the Richmond Manufacturing Index.
  • Global manufacturing continues to show signs of slowing down in Asia. Regional PMI’s are a leading indicator of regional exports, with the current weakness in Asian PMI’s suggesting Asian currencies have not have priced in sufficiently; rather, they are continuing to forecast lower.