Asian Session Recap – December 2, 2013

  • China’s HSBC final manufacturing PMI up from 50.4 to 50.8
  • Nikkei prints 0.04% drop, USD/JPY testing 102.50
  • U.K. manufacturing PMI release coming up

It looks like traders were still recovering from their Thanksgiving festivities, as most major currency pairs refused to budge from their current ranges. EUR/USD hovered around the 1.3600 major psychological level while GBP/USD held on to the 1.6400 mark.

Data from China was a tad better than expected, as the HSBC final manufacturing PMI rose from 50.4 to 50.8, higher than the estimate at 50.5. Meanwhile, the Nikkei posted a 0.04% loss for the day, which explains why USD/JPY had trouble sustaining its rallies past 102.50 for today’s Asian trading session.

The next few hours could see a little more volatility though, with the U.K. set to print its manufacturing PMI for November. The figure is expected to rise from 56.0 to 56.5, which might help GBP/USD and GBP/JPY go for more gains. As for the euro zone, Spanish manufacturing PMI just printed weak results but it wasn’t enough to force EUR/USD below 1.3600.

See also:

U.S. Session Recap

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