As is ever the case with this release the subbies get it early and were in the market well in advance. USD/JPY down to 102.82 from 102.95.
A huge miss on the number giving some life to the beleaguered euro which is testing 1.34
Biggest fall since 2008 to the lowest since June 2013 as production collapsed and ordering of components fell. Prices paid fell for the second month on the spin but stayed well above the 50 mark, Inventory growth slipped from June’s 7 month high. Most in the report are saying that it’s a one off and such a large fall in the current climate could well support that. No weather involved though
US ISM Chicago PMI 31 07 2014
