Yen and Aussie stand still as China PMI figures lift sentiment
On Tuesday, the Japanese yen and Aussie stood still during Asia trade as China PMI data raised regional sentiment ahead of a major bank policy review in Japan supposed to stay pat and as traders eyed regional PMI figures to estimate sentiment as a Fed rate review is going to arise on Wednesday and nonfarm payrolls by the end of the week to be followed by the American presidential election next week.
The currency pair USD/JPY traded at 104.85, rising 0.02%, while AUD/USD was worth 0.7610, tumbling 0.03%. As for GBP/USD, this currency pair traded at 1.2231,descending 0.06%.
The Caixin manufacturing PMI edged up to 51.2, a full point above the supposed 50.2, and followed October’s semi-official China Federation of Logistics & Purchasing manufacturing PMI also at 51.2. That’s what we’ve learnt from the data issued on Tuesday.
In Japan, the manufacturing PMI for October was 51.4, quite below the 51.7 level observed. Currently, traders are shifting their attention to the BOJ’s latest policy review expected to stay the course right after a key policy overhaul last month.