USD Pressured, Regional Equities Firm Post China PMI

The greenback is pressured in Asia today, higher than expected Chinese PMI data saw regional equities firm and US Equity futures pared early losses weighing on the USD.

• Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD prints at $0.6215/20, ~0.5% firmer today. The pair was pressured in the initial aftermath of weak Australian data, however losses were pared as risk appetite grew post China PMIs. The 20-day EMA at $0.6266 presents the next upside resistance.
• AUD/USD is ~0.3% firmer, printing $0.6750/55. AUD was pressured in the immediate aftermath of softer than expected Jan CPI and Q4 GDP. Support came in below $0.67, and the pair extended gains rallies in regional equities boosted risk flows. The pair sits a touch below yesterday's high at $0.6757.
• Yen is softer with risk-on flows marginally weighing. USD/JPY has observed a narrow 30 pip range and moves have been limited for the majority of the session.
• EUR and GBP are benefitting from the greenback weakness, both are ~0.2% firmer.
• Cross asset wise; S&P500 futures are flat having been down as much as 0.3%, and the Hang Seng is ~3% firmer. BBDXY is ~0.1% softer, US 10 Year Treasury Yields are ~1bp firmer.
• In Europe today regional German CPI and European Manufacturing PMIs headline. Further out US Construction Spending and the ISM Manufacturing Survey will cross.