Published at 03:29 (GMT) 03 Jun
China HSBC May Services PMI rises to 53.5; vs 52.9 in April. New business up most since 2012.
On FX, further positive data for AUD, AUD/Crosses. After the stronger than expected Q1 GDP of 0.9%q/q vs 0.7% expected (revised up from 0.5% after the c/a data on Tuesday). AUD/USD hit highs of 0.7819, up from 0.7770-80 before the GDP data.
AUD, AUD/Crosses supported on views that RBA may pause for now - after the stronger Q1 GDP. With some houses calling for end of RBA easing cycle at 2.00% Cash Rate.
AUD/USD offers at 0.7830-50, bids now at 0.7780-90/50. Eye Aussie exporters, corporates, Asian, China buying on dips. Offers from funds, US houses, options on rallies.
AUD/SGD above 1.05 on firmer AUD, but still seen in range of 1.00-1.05 again once AUD comes off highs. AUD/SGD up at 1.0520-30, from 1.0480-90. USD/SGD hit lows of 1.3464 on broadly weaker USD - this time on AUD rise, after EUR rally on Tuesday. USD/SGD, bids at 1.3440-50, offers at 1.3500-10 for now.
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