AUD falls briefly on weak China manufacturing PMI

AUD/USD opened in Asia at 0.7878 and traded a 0.7851-0.7905 range prior to China PMI data. The weak data sent it down to 0.7835 before a slight bounce back to around 0.7860. The HSBC Flash Manufacturing PMI came in lower than expected in March at 49.2 versus 50.5 forecast and lower than the prior 51.6.

USD/JPY traded sideways in the Asian session after falling on Monday. The pair touched a low of 119.57 and a high of 119.87. Japanese flash PMI came in worse than expected but did not have a huge impact on the yen. EUR/JPY was heavy and eased to 130.63 from 131.15, mostly dragged lower by the fall in EUR/USD. GBP/JPY eased down from 179.20 to 178.69.

EUR/USD edged down in Asia after rising yesterday on broad US dollar weakness. EUR/USD eased down from 1.0968 to 1.0905. The lack of any negative news from the Merkel-Tsipras summit however kept the euro from falling too far. Also, ECB Chief Mario Draghi’s optimism in his testimony before the EU parliament helped buoy the single currency. Meanwhile, lower US yields are holding down the greenback.

EUR/GBP edged down from 0.7324 to 0.7304 while EUR/CHF did little, in a holding pattern between 1.0567-80.

GBP/USD fell back from 1.4975 to 1.4920 on little volume but UK inflation data today will be in focus.

USD/CHF rose from 0.9651 to 0.9692 .

NZD/USD closed in New York at 0.7654. Early Asia saw a re-test of yesterday’s 0.7675 high but the move was rejected and the pair eased back to 0.7629 post-weak China PMI data.

The post AUD falls briefly on weak China manufacturing PMI appeared first on Forex Circles.

Source:: AUD falls briefly on weak China manufacturing PMI

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