December 2018 US ISM manufacturing PMI data 3 January 2019

  • Manufacturing PMI 54.1 vs 57.9 exp. Prior 59.3
  • Prices paid 54.9 vs 58.0 exp. Prior 60.7
  • New orders 51.1 vs 62.1 prior
  • Employment 56.2 vs 58.4 prior

Biggest drop since 2008. Given the higher volatility right now, the 60 pip drop in USDJPY to 107.15 is to be expected. The good ADP report hasn’t offered a crumb of comfort to the mood.

Ryan Littlestone
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