The manufacturing sector continued its contractions episode clearing that the 16 economies will tumble with the deepening recession and the ongoing contraction in the world's economic growth. The euro plunged today from an earlier high of 1.4057 levels to currently trade at 1.3915 levels, where now the pair is currently trading in the downside channel, where now the pair might be heading toward 1.3789 levels.

The British Pound also plunged down against the US dollar falling from a high of 1.4828 which was recorded earlier today and fell down recording a low of 1.4377 to retreat back to currently trade at 1.4494 levels where the pair couldn't hold above 1.4730 levels especially after the weak data which was released earlier today.

The USD/JPY pair managed to incline slightly against to reach a high of 91.45 but the pair couldn't hold above the breached resistance level 91.20 level, markets are still waiting for the ISM reading…