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Forex: AUD/NZD remains in narrow range after China PMI data

The AUD/NZD is in a narrow range during Asia trade, down 8 pips at 1.2102. The pair has been in a consistent down trend over the last 4 weeks, and finished the month of April down 2.74%. Earlier in the session at 1:00 GMT, both China PMI (50.6 Actual vs. 50.8 Estimate) and Australia HIA New Home Sales (+4.2% actual vs. -5.3% prior) were released, but reaction to the numbers was quiet.
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Forex Flash: USD to appreciate when US-only holidays – Nomura

According to Nomura, when a local market closes for holidays, the local currency tends to appreciate against the USD: “We find that generally during local market holidays, local currencies appreciate against USD,” say analysts at the bank, while, “During US-only holidays, the USD tends to appreciate against other currencies,” they note.
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