ForexLive Asia FX news wrap: China manufacturing PMIs - official lower, private higher

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Friday 30 April 2021

The USD is a touch weaker on the session, this despite a small tick up in US yields. USD/JPY topped out above 109 during the Asian morning. Its a mixed bag across major FX pairs for the session, with little change for EUR, AUD, NZD and CAD against the dollar while cable is just a touch to the stronger. Small ranges prevailed.

The news flow was relatively quiet, the coronavirus catastrophe continues to unfold in India with surging cases, hospitalisations (when beds and facilities can be found) and deaths. Pledges of support and the shipping of supplies continues from countries around the globe but it'll be still some time until the situation in the country is brought under anything like control. A terrible tragedy.

There was dreadful news out of Israel with 38 people believed to have died in this:

There was plenty of data out from the timezone today, the most focus was on China's PMIs. The official survey PMIs for manufacturing and non-manufacturing (and thus composite) all fell below expectations and below last month. As a counterpoint the private survey (Caixin/Markit) manufacturing PMI rose. Do note the official and private surveys are different surveys (see bullets above). Market impact was small only.

As a heads up for next week - Japanese and Chinese markets are closed from May 1 to May 5 for holidays.

Regional equities:

  • Japan's Nikkei %, Topix %

  • China's Shanghai Composite %

  • Hong Kong's Hang Seng %

  • Australia's S&P/ASX 200 %

Bitcoin was relatively subdued:

Forex news for Asia tradingfor Friday30April 2021

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