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Antipodeans Firm After China PMIs

FOREX

The Antipodeans are leading the bid in the G-10 space in Asia after China August Manufacturing PMI was firmer than forecast at 49.7 (exp: 49.2). Non-Mfg was a touch softer than estimates at 51.0, and the composite measure ticked higher to 51.3 from 51.1.

  • AUD/USD is up ~0.5% and sits a touch above the $0.65 handle, yesterday's high remains intact for now. The 20-Day EMA has been cleared and now bulls target the 50-Day EMA ($0.6589).
  • Kiwi is up ~0.3%, however NZD/USD remains well within recent ranges. Bulls focus on a break of yesterday's high ($0.6007) which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6177).
  • Elsewhere in G-10 BBDXY is ~0.2% lower, and the Yen is up ~0.2%.
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