Yen retraces weakness on Caixin PMI
On Friday, the Japanese yen retraced earlier weakness during Asia trade, as the Caixin manufacturing PMI for China came in exactly as expected, thus compensating mixed Japanese data on household spending, consumer prices, jobs and industrial production.
The currency pair USD/JPY changed hands at 101.10, soaring 0.07%. Meanwhile, AUD/USD was worth 0.7631, tumbling 0.05%, off earlier weaker levels because the Australian currency's fortunes are closely tied to major trade partner China.
The Caixin manufacturing PMI for September appeared to be 50.1 precisely as expected. It indicates that China’s economy is already stabilizing.
In Australia, HIA new home sales for September edged up 6.1% month-on-month, with a drop of 9.7% last month, housing credit earned 0.5% for August, the same as last month. Additionally, private sector credit soared 0.4%, below the 0.5% revenue observed in August month-on-month.
Japan’s industrial production for August tacked on 1.5%, beating an expected revenue of 0.5%.