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Asian markets down despite FOMC, European futures up ahead of ECB

FXstreet.com (Barcelona) - Japan’s Nikkei Stock Average (-0.76%), Mainland China’s Shanghai Composite (-0.48%), Hong Kong’s Hang Seng (-0.28%) and South Korea’s Kospi (-0.34%) edged lower on the first day Asian bourses were fully up and running in May, that despite yesterday’s FOMC meeting in which policymakers left the door open for more asset purchases overnight. The HSBC manufacturing PMI was moved lower, from 51.6 to 50.4 in April, instead of 50.6 as expected.

Futures for the German DAX 30 (-0.23%) and the French CAC 40 (-0.23%) are signaling a lower opening ahead of Markit manufacturing PMI data on the European session. More importantly, investors are pricing in expectations ahead of the ECB interest rate decision due at 11:45 GMT. Draghi’s press conference is scheduled at 12:30 GMT.

Forex: AUD/USD in session lows around 1.0230

The Aussie dollar is navigating the lower end of today’s range around 1.0230/35 after the disappointing print from the Chinese PMI. Tepid domestic data also showed that Building Permits contracted 5.5%....
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Forex: USD/JPY still held above 97.00

The USD/JPY continues to find good support at the lower area of 97. After Tuesday and Monday’s lows at 97.02 and 97.03, today’s downside was held by 97.09 in early Asian session. After being capped by its opening price at 97.39, the pair moved down again, to 97.13. As of writing and ahead of the European opening, the market is bouncing back to the opening price.
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