July 2: Asian session
Asian stocks rose, with the regional index extending gains from a 6-year high, after good manufacturing PMIs in the world’s two biggest economies – the United States and China – sent US equity gauges to records. MSCI Asia Pacific Index advanced 0.7%. Japanese Nikkei 225 increased by 0.4%. USD/JPY rose to 101.64.
Demand for the commodity currencies declined in the Asian trade. AUD/USD fell from the $0.9500 mark back to $0.9450 on the release of Australia trade data. May trade deficit came at 1.91B, while the April reading was revised down to 0.78B. NZD/USD weakened to $0.8745. Gold price sits at $1325.
EUR/USD is testing support at $1.3670 (200-day MA). GBP/USD is little changed in the $1.7145 area.