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

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

Source

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