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Commodity Currencies Creep Higher In Early Trade

FOREX

Another subdued start to the Asia-Pac session; risk sentiment is generally positive, AUD & NZD are both a handful of pips higher, building on Tuesday's gains. Data from Australia showed PMI manufacturing PMI fell to 52 in July while CoreLogic house prices rose 1.5% in August. Victoria reported 120 new coronavirus cases, an uptick from the previous day.

  • USD/JPY has crept higher, reports surrounding Japanese politics continue to do the rounds with the LDP leadership race and the general election drawing near. Data showed Capex rose above estimates at 5.3% in Q2.
  • Looking ahead Australian GDP data for Q2, China's Caixin PMI and the August ISM Manufacturing data from the US are the data highlights Wednesday. ECB's Weidmann and Bostic are both due to be speaking.

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