Forex headlines for February 3, 2014:
- January US ISM manufacturing PMI 51.3 vs 56.0 exp
- December 2013 US construction spending 0.1% vs 0.2% exp m/m
- December Canadian PPI 0.7% vs 0.3% exp m/m
- January Canadian RBC manufacturing PMI 51.7 vs 53.5 prior
- Ben Bernanke joins the Brookings Institution
- Russia sold nearly $8 billion in FX reserves in January
- Soft US car sales weigh on sentiment
- ECB rate cut analysts in the minority for action this week
- Fed survey says banks eased lending standards in the three months to January
- WTI crude down 80-cents to $96.69
- Gold up $12 to $1257
- S&P 500 down 41 points, or 2.3%, to 1742
- Largest one-day percentage drop in S&P 500 since June
- JPY leads, GBP lags
If you’re just waking up in Asia, you’ll probably need another cup of coffee once you see the price moves today. It was a bloodbath in the yen crosses with GBP/JPY leading the way, falling more than 300 pips.