The USD/JPY pair sticks to mild gains after bouncing off the 149.55 low during the early Asian session on Tuesday. The pair currently trades near 149.
USD/JPY posts modest gains around 149.76 after the Japanese PMI data. Japanese Jibun Bank Manufacturing PMI for October eased to 48.5 vs. 48.5 prior, worse than expectation. The Chicago Fed National Activity Index suggests the US economy is still some distance from a recession. Investors await the S&P Global PMI reports for fresh impetus. 76, gaining 0.03% on the day. However, the fear of FX intervention by the Japanese authorities remains intact.
The Chicago Fed National Activity Index suggests the US economy is still some distance from a recession. The figure rose to +0.02 in September versus -0.22 prior. A zero value for the index indicates the economy is growing at trend. A value of zero for the index implies that the economy is expanding at its current rate. Traders will keep an eye on the US S&P Global PMI data on Tuesday.
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