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Session Recap: Calm before the storm; China PMI in line with expectations

FXstreet.com (Barcelona) - With half Asia closed for vacation, and the other half getting ready to it, ahead of European markets also closed on holidays, local markets remained subdue again in Asia, as the calm just before the storm, given all the data is to be released in the hours ahead.

EUR/USD traded quiet around the 1.3165 level, while AUD/USD did so around the 1.0370, USD/JPY below the 97.40, and GBP/USD around the 1.5530. Gold remained flat at $1475, as well as Oil around the $93 mark. Open local share markets such as Nikkei and ASX show small loses, down around -0.25% each, while most of the rest have been closed.

In the data front, China PMI came in line with expectations at 50.6 showing still expansion, while Australia HIA new home sales came in better than previous at +4.25% from previous at -5.3%, and AIG manufacturing index for Australia too showed a lower number than previous at 36.7 vs 44.4. Average cash earnings year on year for Japan showed a better than expected figure at -0.6% vs -1.0%, coming from a previous one at -0.8%.

Commodities Brief: S&P 500 closes at all time highs, commodities mixed on the day

Forex: US Dollar Index closes sharply lower ahead of Fed Meeting

South Korean CPI -0.1% m/m (vs. 0.2% expected and -0.2% prior)

Forex: EUR/JPY closes slightly higher, support at 127.00 continues to hold

Australia Apr AiG Performance of Mfg Index decreases to 36.7 vs 44.4

Forex Flash: Don't be expecting a change in the monthly QE pace at Fed Meeting – Westpac

Forex: USD/JPY finds bids above 97.00

China PMI in line with expectations

Forex: AUD/USD near highs after China PMI

Forex: EUR/USD quiet during Asia session, resistance at 1.3200 remains in focus

Forex: GBP/USD finishes higher for a fifth straight day, closes April +1.41%

Forex: GBP/USD finishes higher for a fifth straight day, closes April +2.31%

The Sterling finished higher for a fifth straight day, closing up 42 pips at 1.5535. Economic data in the coming European session will be light with the only reports from the UK being Nationwide Housing Prices (6:00GMT) and Markit Manufacturing PMI (8:28 GMT).
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Forex Flash: RBA has more monetary easing manoeuvrability - NAB

Today's AiG Manufacturing PMI fell to 36.7 in April from 44.4 last month, lowest since 2009, while "established house prices in capital cities eased after solid Q1", notes the NAB, adding that " HIA home sales provided some balance, up 4.2% in March, consistent with some dwelling investment recovery..." The bank concludes that today's releases give the RBA "more monetary easing manoeuvrability."
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