China Apr NBS Manufacturing PMI declines to 50.6 vs 50.9
May 1, 2013
Forex: USD/JPY finds bids above 97.00
With Nikkei index down -0.37% for the day barely above the 13800 points, USD/JPY is last at fresh session lows 97.22, off late NY session highs at 97.60, ahead of key risk event of the Asian session in the form of China PMI at 01:00 GMT. The pair managed to bounce from fresh 2-week lows at 97 round, on the back of US weak data, and Yen strength.
The Chinese NBS Manufacturing PMI for the month of April came at 50.6 vs 50.7 expected and 50.9 prior reading. The read is pretty much in line with expectations. Above 50 still indicates expansion int the sector.