collected by :Irax John
Meanwhile, China’s private Caixin PMI manufacturing tumbled to 49.6 in May, down from 50.3 and missed expectation of 50.2.
In European session, Eurozone PMI manufacturing final, Italian GDP, Swiss retail sales and SVME PMI, Swiss GDP will also be released.
And for today, UK PMI manufacturing will also be watched.
PMI manufacturing was finalized at 53.1 in May.
BoJ Harada: No big long term losses on stimulus exitBoJ board member Yutaka Harada addressed the concerns of stimulus exit and noted that the central bank won’t suffer large long-term losses because of that.
The Australian Dollar Contraction After China Caixin PMI Contraction
referring to The Australian Dollar declined versus its major peers after the Caixin manufacturing PMI reading was released.
Interestingly, the Caixin survey crossed the wires 15 minutes after a better than expected Australian retail sales data.
That sent the Australian Dollar higher.
Talking Points:Australian Dollar declined on a 49.6 Caixin manufacturing PMI readingThe figure was the first contraction since June 2016, almost 1 year agoThis disappointment followed yesterday’s improvement in official dataWhat do retail traders’ buy/sell decisions hint about the Australian Dollar trend?Find out here.
The PMI survey clocked in at 49.6 versus 50.1 estimated, indicating a contraction.
referring to REUTERS/Peter Nicholls/File PhotoFILE PHOTO: A pedestrian shelters under an umbrella as she walks past a money exchange sign in central London, Britain January 16, 2017.
REUTERS/Kai Pfaffenbach/IllustrationFILE PHOTO: Traders at ETX Trading look at their screens at their offices in London, Britain August 5, 2016.
REUTERS/Peter Nicholls/File PhotoFILE PHOTO: A trader at ETX Trading reacts to a screen at the company’s offices in London, Britain August 5, 2016.
U.S. dollar and Euro bank notes are photographed in Frankfurt, Germany, in this illustration picture taken May 7, 2017.
The big mover in Asian time was the Australian dollar, hit by a private survey showing Chinese manufacturing activity unexpectedly shrank in May.