There was little doubt headed into today’s data that the economy was slowing rapidly but just how rapidly is opening some eyes. A big jump in non-farm payrolls, a slump in retail sales and now a drop in industrial production paints a grim picture. It’s not a surprise, but it is depressing nonetheless.
EUR/JPY was knocked lower ahead of the data, down to 136.00 from 137.20. Remarkable volatility remains the story line…
