China Manufacturing PMI missed expectation and Ukraine crisis escalating

China Manufacturing PMI missed expectation and Ukraine crisis escalating

Key news move the market during of Asian trading session today:

China HSBC Manufacturing PMI of April increased to 48.1 from 48.0 of March but still below 50 and missed expectation of 48.4. This has been the fourth month of contraction and raising more concern on the slowdown of China economy, it is likely that the slowdown is deepening and faster. Aussie dollar was most affected by this news. AUDUSD loss almost 40 pips already but down trend halt at 0.9252. If AUDUSD break 0.9240 zone, down trend will be strengthen.

Ukraine crisis still escalating with the southern port city remained in the spot light. It is likely that Ukraine security forces will expand its operation. As a result, Gold moved up to 1310 from 1299 this morning and USDJPY losing 50 pips from 102.26 down to 101.86. Gold is expected to continue its uptrend if Ukraine tensions not easing.

GBPUSD is moving withing small range waiting form Europe market open.

 

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