USDJPY AFTER DOUBLE TOP WANT TO MAKE BULLISH BAT PATTERN
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As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic! realDonaldTrumptradingeconomics.com/united-states/business-confidence
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Manufacturing of the US ISM index sector declined to a 10-year low in September. According to a recently released report, the index sector's ISM production declined to 47.8% in September, the lowest since June 2009. This shows that ISM data has been declining for 2 consecutive months. The reading was down compared to August with 49.1% reading. Readings below 50 show a decline.As a result of this report, the Dow Jones Exchange has dropped over 100 points, eliminating the increase achieved at the start of trading.
According to ISM manufacturing sector chief Timothy Fiore, global trade has been an important role. Overall sentiment data this month indicates that A should be cautious in managing short-term growth.
Some of the factors that cause the decline are mainly driven by the lack of demand. At the same time, delinquent inventories and exports and bookings also declined last month.
According to Deutsche Bank's chief economist, there is no sign that the economic downturn will be over soon, the risks to the economy's economy are rising.
These deteriorating data indicate that the manufacturing sector is fascinated by the tense trade war between the United States and China.
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Over the past 2 days, the US stock exchange has been in a downturn as investors have expressed concern that there are new signs of slowing economic growth.Dow Jones stock exchange traded down 833 points in two days. With this the Dow Jones exchange has fallen 3.1% in this quarter.
Based on the data released this week, the US manufacturing sector has recorded the lowest reading in over 10 years. ISM data only managed to record 47.85% in September, continuing in August.
In addition, private sector employment growth also grew from a decline of 157,000 in August to an increase of only 135,000 in September.
Today the World Trade Organization (WTO) has approved the United States (US) to impose tariffs on European Union (EU) goods including aircraft and agricultural products worth $ 7.5 billion annually.
This further underscores investor concerns over the impact of the ongoing trade war on global growth and its ability to attract the US into a recession.
So far, the S&P 500, the Nasdaq 100 and the Dow Jones Exchange each fell more than 0.50% as of 10.40 p.m.
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