China Shock Returns!? Starts with New Year Cross-Yen Selloff

◎ Indicator Results

January 2 at 10:45 release

Caixin Manufacturing PMI: Forecast 50.1　 Result 49.7

◎ Risk Off

With concerns about the impact of U.S.-China tariffs and the trade war, attention was focused on the manufacturing PMI as a gauge of future economic activity.

As a result, the PMI fell below the threshold that indicates expansion (50), coming in at 49.7.

The feared scenario has occurred, triggering a risk-off move.

Chinese stock prices fell!

Cross-yen has declined.

Australian dollar selling has led to selling of the New Zealand dollar and yen buying.

Trading volume is still light, so reactions are sensitive.

Today we will not trade, but I would like to clearly monitor the risk-off trend.

USD/JPY – Timeframe chart

AUD/JPY – Timeframe chart

NZD/JPY – Timeframe chart

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