Market Overview

ForexLive Asian Session Wrap For Thursday November 1: PMIs Everywhere

ForexLive Asian Session Wrap For Thursday November 1: PMIs Everywhere

The AIG/PWC Manufacturing Index for Australia registered an improvement on last month at 45.2 (44.1 was the prior) but is still in contractionary territory;

South Korean CPI came in at +2.1% (Y), well below the Central Bank of Korea's 3% upper limit;
South Korean HSBC Manufacturing PMI came in at 47.37 (45.71 previously);
South Korean Trade Balance registered +3.8B (market expectations were 3.42B vs. 3.1B prior);
Australian Import Price Index came in at minus 2.4%, while the Export Price Index showed minus 6.4%;

The official Chinese Manufacturing October PMI result clocked an expansionary 50.2 compared with 49.8 in Sept.;
The closely following HSBC/Markit Chinese Manufacturing Oct. PMI improved too, to 49.5 (vs. 49.1 Sept.);
The Taiwan PMI for October came in at 47.8 (September 45.6);
The PBOC added more liquidity, with 173 billion yuan of reverse bond repurchase agreements;

Indian PMI for October came in at an expansionary 52.9 (September 52.80).

The big currency mover today was a weakening Yen, most notably USD/JPY and EUR/JPY, as the market took some heart from the improving (though still not out of the woods) Asian Manufacturing PMI figures to add to Euro positions. USD/JPY strengthened with end of month flows, and stops getting hunted above 80 during the Tokyo lunch session.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Markets


Related Articles

View Comments and Join the Discussion!