- AUD/JPY remains bid on upbeat China PMI data.
- The NBS manufacturing PMI rose to a three-month high in June.
- The pair remains vulnerable to broader market sentiment.
AUD/JPY jumped 10 pips to probe the psychological resistance at 74.00 after China reported a better-than-expected manufacturing and non-manufacturing data for the month of June.
China's NBS Manufacturing PMI rose to a three-month high of 50.9 in June, beating the expected print of 50.4 and up from the previous month's reading of 50.6. The NBS or government PMI focuses mainly on state-owned enterprises, which have relatively easy access to credit than the small and medium-sized export-oriented units.
Meanwhile, Non-Manufacturing PMI jumped to a seven-month high of 54.4 in June from May's 53.6.
Looking forward, the pair would struggle to extend gains, if losses seen in stock markets in China and Hong Kong weigh over Japan's Nikkei index and Australia' S&P/ASX 200, which are currently trading in the green. Also, the futures on the S&P 500 are up just 0.10%, a sign the US stocks may struggle to extend Monday's rally.
A recent resurgence in coronavirus infections has forced some investors to consider the possibility of a long drawn out recovery. After all, confirmed COVID-19 cases worldwide rose past 10 million and deaths surpassed 500,000 on over the weekend, according to Reuters.
|Today last price||73.92|
|Today Daily Change||0.08|
|Today Daily Change %||0.11|
|Today daily open||73.84|
|Previous Daily High||73.99|
|Previous Daily Low||73.36|
|Previous Weekly High||74.42|
|Previous Weekly Low||72.73|
|Previous Monthly High||71.93|
|Previous Monthly Low||67.63|
|Daily Fibonacci 38.2%||73.75|
|Daily Fibonacci 61.8%||73.6|
|Daily Pivot Point S1||73.47|
|Daily Pivot Point S2||73.1|
|Daily Pivot Point S3||72.84|
|Daily Pivot Point R1||74.11|
|Daily Pivot Point R2||74.37|
|Daily Pivot Point R3||74.74|
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