Currency Analyst since 2010

Jan. 23: Asian session

Asian markets fell on Thursday on disappointing Chinese data. China’s flash HSBC Manufacturing PMI fell from 50.5 to 49.6. MSCI’s broadest index of Asia-Pacific shares outside Japan also lost 1.1%, Australia’s main index dropped by 1%. Japan’s Nikkei surrendered early gains to be down 0.5% on the day.

USD/JPY rose to 104.84 before slipping by 40 pips. Commodity currencies came under pressure following the downbeat China HSBC figures. AUD/USD fell from $0.8830 and tested the levels below the $0.8800 mark, retracing the yesterday’s gains. NZD/USD has also lost some ground, declining to $0.8260.

EUR/USD edged down to $1.3530. GBP/USD went a bit down to $1.6560 from yesterday’s high at $1.6587.

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