Markets are mixed reacting to China’s HSBC manufacturing PMI release of a seven-month high of 50.8 juxtaposed against a softer than expected Eurozone PMI release and rising oil prices. In FX this has given the growth sensitive AUD, NZD and CAD a lift; but has weighed on the Europeans. Today’s existing home sales are important; however it will be the tone coming from the Fed and inflation data that provide sustainable catalysts for FX.
Read the full report: FX Daily