One of the characteristics of the rout in the last few trading days was the absence of US economic data, that’s one of the reasons I’m so skeptical the pain will last.
Watch for capital goods orders non-defense excluding aircraft orders, which are expected to rise 0.3% after a 4.5% jump in November. There is some sense the Fed could be a bit more dovish or only taper by $5 billion and a strong number might snuff that out, which could weaken risk. On the net, however, I expect a good number would calm nerves and keep the bid under USD/JPY.