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Session Recap: HSBC China PMI misses expectations; Yen strengthens the most

FXstreet.com (Barcelona) - Today's Asian session spotlight was on the China HSBC flash manufacturing PMI data that came in below expectations at 50.50 when 51.4 was consensus advanced figure, and 51.6 previous. Immediate reaction was USD and Yen positive, sending AUD/USD to fresh 6-week lows at 1.0218, and USD/JPY to 98.55.

EUR/USD, GBP/USD and NZD/USD all move also lower, coupled with Gold and Oil, along with some local share markets like Shanghai down -2% and Hong-Kong -1.3%. Australian ASX kept gains adding +0.87% for the day, with Australia CB leading index coming better than expected at +0.3% rising for fourth consecutive month, at best pace in 9 months.

Even though USD was one of the winners of the session with US bonds finding bids being capped around yesterday's weekly highs, Yen was the big winner of the session, recovering big part of the loses from last Friday.

Main headlines in the Asian Session:

Forex: AUD/JPY capped again below 103.10, China data on tap later in session

Japanese life insurers plan to raise foreign bond holdings

BoJ easing will have credit negative effects on Japanese life insurers - Moody's

Australia Feb CB Leading Indicator increase to 0.3% vs 0.2%

China HSBC manufacturing PMI below expectations

Forex: AUD/USD sharply lower after lackluster China PMI data

Forex: AUD/NZD pops even though Aussie dips

Abe says Japan not out of deflation yet

Forex: USD/JPY breaks below 99.00 bids

Forex: EUR/JPY consolidates around 129.00 support, Eur PMI on tap

Forex: NZD/USD, watch for a downside breakout - 2ndSkies

Forex Flash: USD remains our currency of choice - JPMorgan

Forex: Upcoming economic data the catalyst for EUR/USD?

It’s been a frustrating last few weeks for market participants trading the EUR/USD as the pair has basically tracked sideways since April 9th. Although it is holding up better than some of the other currencies such as the Aussie and Canadian, the coming session could provide bears with plenty of excuses to take the pair below the 1.3000 support level.
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Forex: EUR/USD around 1.3040/45, PMI eyed

The shared currency is trading on the back foot on Tuesday, after the flash HSBC Manufacturing PMI for the month of April came in softer than estimates at 50.5 vs. 51.4 and March’s 51.6...
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