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New York Fed (Empire) index surprises to the downside- USD/JPY slips
The latest US Empire Fed index (New York region) has just been released and it was a sizeable miss on the downside. The markets had expected a reading of -5. The actual reading was -43.7 and that is a real surprise and worst such reading since 2020. The dollar has reacted immediately to the news and pared gains seen earlier. The USD/JPY was trading above 146.75 when this news hit the wires. The dollar has now fallen back underneath 146.50 as the markets seem a little stunned by this surprisingly weak data. This news has pushed US yields lower and consequently that has lifted US stock futures once more. The USD/JPY is currently trading at 146.45
Market News
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EUR/USD lifts on better than forecast French PMI data, but German numbers await
The first of the flash PMI reports noted in the previous update has now been released from France. As mentioned, the markets were expecting a modest... -
French and German PMI data in the spotlight shortly- check out the CAC 40 right now
Today sees a number of important PMI index reports, from France, Germany, the UK and the US. The first one to report is France, at 8.15am GMT (Germany... -
S+P 500 futures indicate the corrective rebound is back in play again?
Several updates here last week looked at the corrective nature of the S+P 500, as it attempted to forge out a low just above 5,500. The noted first...
