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Asia’s manufacturing activity broadly stagnated

Asia’s manufacturing activity broadly stagnated | 01 October 2021

01 October 2021, USD/JPY

Asia’s manufacturing activity broadly stagnated

USDJPY trading plan:

Asia’s manufacturing activity broadly stagnated in September as pandemic-induced factory shutdowns and signs of slowing Chinese growth weighed on the region’s economies, surveys showed. The factory activity in September shrank in Malaysia and Vietnam, and grew in Japan at the slowest rate in seven months, as chip shortages and supply disruptions added to the woes of a region still struggling to shake off the hit from COVID-19. China’s waning economic momentum dealt a fresh blow to the region’s growth prospects. This is a bad signal for the stock markets and USDJPY, which has a correlation with the shares.

Investment idea: sell 111.25 and take profit 110.80.

David Johnson
Analyst of «FreshForex» company
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