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USD/JPY Trends: US Durable Goods Orders and Fed Policy in Focus
Later in the US session, US durable goods orders will give further insights into the demand environment. Economists expect orders to decline by 1% month-on-month (MoM) in February after rising 3.1% in January.
A larger-than-expected fall would align with March’s S&P Global Manufacturing PMI, which dropped below the neutral 50 mark, signaling a sector contraction. In this scenario, the USD/JPY pair could fall toward the March 20 low of 148.169 on recession fears.
An unexpected rise in orders could ease recession fear, potentially driving USD/JPY toward the March 25 high of $150.942.
