Forex: Risk aversion jumps on Asia-Pacific after HSBC PMI China

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FXstreet.com (Barcelona) - Risk appetite is currently jumping out of the windows after slightly better than previous flash HSBC PMI China recently released at 47.8 from a previous 47.6 in September, which initially market reacted in a mild positive way, but finally after 11 consecutive months, according to Bloomberg, data came out below 50, which means contraction, USD is rallying across the board except against Yen.

AUD/USD is one of worst underperformers among majors now at fresh session lows at 1.0429, while Shanghai composite index is near 3-year lows losing -1.2% for the day, Hang-Seng -0.48% and Nikkei -0.70%. Oil is resuming the -3.41% daily fall had Wednesday after inventories rose unexpectedly to 8.5M, with prices falling to fresh 2-month lows. USD index is bouncing around 79.23 from daily lows at 79 round.

EUR/USD is at 1.3021 off session lows at 1.3013, USD/JPY is at 78.33 off session lows at 78.30, and Cable at 1.6219 off session lows at 1.6212, all three lower for the session being. BoJ governor is expected to give a speech later on at 06:35 GMT at the National Securities Industries Convention in Tokyo.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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