The ISM manufacturing and JOLTS data was good news on hopes for declining inflation and a slowing economy but hoping for those reports to turn the market around in a week that’s entirely dominated by flows is a tall order.
After a brief pop in risk assets, they’ve now sank to the lows of the day. The S&P 500 is down 37 points, or 0.8% while the Nasdaq is down 1.1%.
In FX, the US dollar is at the best levels of the day or close on virtually every front. USD/JPY is up 167 pips to 143.67 now.
USDJPY 10 mins