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23 May 2013
Session Recap: Asia tumbles on big China HSBC PMI miss; Yen recovers ground
FXstreet.com (Barcelona) - A busy session today in Asia-Pacific out of the thin and boring range usual trade, with USD/JPY first printing session highs at 103.58 to reverse on risk aversion to session lows last at 102.47, with Aussie also plummeting to fresh 11-month lows barely above the 0.96 handle, and EUR/USD steady around the 1.2850 after fresh session and 2-day lows at 1.2823.
Nikkei index went from a fresh 5.5-year high barely below the 16000 points mark by early Tokyo trade, up +1.72% for the day, to end down -3% at the moment, almost 1k points lower. Big red all over Asia-Pacific share markets but Shanghai that breaks even at +0.07%. Hong-Kong's Hang-Seng is down -1.75%, Australian ASX -1.71%, and Korean Kospi -0.67%.
The catalyst for such a reversal has been much lower than expected China HSBC flash manufacturing PMI that came in below the key 50 level for first time since past October, posting a 49.6, when 50.5 was expected, slightly higher than previous 50.4. MI Inflation expectations in Australia came in better than expected at 2.3%, but couldn't help bad news coming from Ford saying will cut production in Australia by Oct 2016, and bad China figures.
Veni, vidi, I didn't tap; EUR/USD falls to 1.2850
Jon Hilsenrath says to expect less of the idea of ‘tapering ‘ from now on
Commodities Brief: Precious metals struggle as US Dollar remains well bid
Kiwi plummets back to previous lows near 0.8050
Japan: Foreign bond investment (May 17): ¥-804.4B vs ¥185.9B
Ex RBA’s Mckibbin: Expects more RBA cuts but thinks it would be a mistake
EUR/AUD posts a fresh 1.5-year high above 1.33
Ford Australia confirms its closing two plants
Australia May Consumer Inflation Expectation up to 2.3% vs 2.2%
China May HSBC Manufacturing PMI down to 49.6 vs 50.4
Aussie continues slide lower after HSBC PMI misses estimates
AUD/NZD glued to 1.20 despite Aussie disaster
GBP/JPY edging lower towards support at 154.50
USD/JPY turns below 103.5 on bad China data
EUR/USD - More volatility expected with EU PMI on tap
Nikkei index went from a fresh 5.5-year high barely below the 16000 points mark by early Tokyo trade, up +1.72% for the day, to end down -3% at the moment, almost 1k points lower. Big red all over Asia-Pacific share markets but Shanghai that breaks even at +0.07%. Hong-Kong's Hang-Seng is down -1.75%, Australian ASX -1.71%, and Korean Kospi -0.67%.
The catalyst for such a reversal has been much lower than expected China HSBC flash manufacturing PMI that came in below the key 50 level for first time since past October, posting a 49.6, when 50.5 was expected, slightly higher than previous 50.4. MI Inflation expectations in Australia came in better than expected at 2.3%, but couldn't help bad news coming from Ford saying will cut production in Australia by Oct 2016, and bad China figures.
Veni, vidi, I didn't tap; EUR/USD falls to 1.2850
Jon Hilsenrath says to expect less of the idea of ‘tapering ‘ from now on
Commodities Brief: Precious metals struggle as US Dollar remains well bid
Kiwi plummets back to previous lows near 0.8050
Japan: Foreign bond investment (May 17): ¥-804.4B vs ¥185.9B
Ex RBA’s Mckibbin: Expects more RBA cuts but thinks it would be a mistake
EUR/AUD posts a fresh 1.5-year high above 1.33
Ford Australia confirms its closing two plants
Australia May Consumer Inflation Expectation up to 2.3% vs 2.2%
China May HSBC Manufacturing PMI down to 49.6 vs 50.4
Aussie continues slide lower after HSBC PMI misses estimates
AUD/NZD glued to 1.20 despite Aussie disaster
GBP/JPY edging lower towards support at 154.50
USD/JPY turns below 103.5 on bad China data
EUR/USD - More volatility expected with EU PMI on tap