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Forex: EUR/USD around 1.3040/45, PMI eyed

FXstreet.com (Barcelona) - 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.

The euro would remain under pressure as the flash manufacturing and services PMI results are also due in France, Germany and the EMU, ahead of a 3m auction of Spanish Letras.

At the moment, the cross is down 0.16% at 1.3045 with the next support at 1.3015 (low Apr.22) followed by 1.3001 (low Apr.17) and finally 1.2969 (MA21d).
On the flip side, a break above 1.3130 (high Apr.19) would open the door to 1.3202 (high Apr.16) and then 1.3229 (50% Feb-Apr slide).

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

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.
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