China’s non-manufacturing PMI gives yet more fuel for risk-off trades

Coming hot on the heels of the bearish tone from the RBA yesterday, this latest Chinese data showed that any recovery is a ways off yet. I’m going to stick with my long GBP/JPY trade but only because it’s in the money and I’ve got a tight stop-loss, because otherwise I cannot think of any strong justification 🙂

  1. Indeed Doc, looks like it may trade 12550/12675ish for another few days before exploding to infinity and beyond 🙂 Alternatively my broker will be wondering how much slippage to take on my stop!

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