Forex Flash: China HSBC PMI, risks of a surprise evenly balanced - Westpac (Barcelona) - The “flash” April China’s Manuf PMI will increase volatility to day in Asia, depending on the number out. According to Sean Callow, strategist at Westpac, "consensus is for 51.5, effectively steady versus the final Mar reading of 51.6."

"The PMI has averaged 51.4 so far this year but was choppy around lunar new year, falling as low as 50.4 in Feb from 52.3 in Jan. Since the survey was below 50 for much of 2012, we see the risks of a surprise evenly balanced" Sean adds.