The Antipodeans were on the back foot on the back of persisting Yuan sell-off and a broadly bid US dollar following upbeat US growth figures. USD/CNY clocks 11-month high of 6.8370The USD/CNY opened at 6.8159 and rose to an 11-month high of 6.8348 in early trade. Also, in focus remains the economic confidence numbers from the Euroland due to be reported at 0900 GMT. The main event risk for today remains the German July preliminary CPI report scheduled for release at 1200 GMT. The week ahead and key events: eyes on FOMC statement & BoJ - NomuraAnalysts at Nomura offered their outlook for the week ahead and the key events.
Forex Today: Kiwi – weakest amid Asia risk-off, UK manufacturing PMI, Fed eyed
Downbeat Chinese Caixin manufacturing PMI further suggested to a slowdown in the Chinese economy while mixed New Zealand's jobs report weighed down on the Kiwi. China's Caixin Manufacturing PMI eases to 50.8 in July, 8-month lowsChina's July Caixin manufacturing PMI came in at 50.8 vs. 50.8 expected and 51.0 last, with output and new business both expanding at softer rates. Key Focus aheadToday's EUR macro calendar remains eventful, with a flurry of final manufacturing PMI reports due out from across the Euro area, starting 0715 GMT. Data-wise, the US ADP jobs report will be published ahead of the manufacturing PMI reports from both Markit and ISM that will drop in at 1400 GMT. How to trade the US ISM Manufacturing PMI with EUR/USDThe ISM Manufacturing PMI provides guidance towards the NFP and moves markets.
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