Forex today witnessed a sense of calm in the Asian trades this Thursday, as the dust settles over the FOMC policy decision, with the US dollar trading modestly flat in a tight range versus its main competitors, offering little impetus to most majors. However, the Yen traded on the back foot amid a rise in Treasury yields across the curve, having shrugged off upbeat Japanese PMI report. Meanwhile, the Antipodeans traded mixed, unable to benefit from the Chinese manufacturing PMI release, which surprised markets to the upside.

Among other related markets, the Asian markets traded mixed amid a slightly hawkish Fed and higher Treasury yields while positive tone seen around the commodities’ space failed to keep the sentiment buoyed.

Main topics in Asia

Nikkei Japan Manufacturing PMI jumped to 4-year high in January

The headline Nikkei Japan Manufacturing Purchasing Managers’ Index increased to 54.8 in January; the highest reading since February 2014 and up from 54.0 in December. 

China's Caixin Manufacturing PMI steadies in January, but surprises positively

China's Jan Caixin manufacturing PMI came at 51.5 vs 51.3 expected and 51.5 last, with the output growth hitting fresh 13-month highs in the reported month.

China MOFCOM: China, UK to sign GBP 9bln worth of deals during PM May’s trip

China’s Commerce Ministry (MOFCOM) is out with a brief statement, via Livesquawk, announcing that China and the UK are expected to sign GBP 9 billion worth of deals during the UK PM May’s trip to China.

Australian MP David Feeney resigns

The news is crossing the wires that Australian MP David Feeney, who holds dual citizenship with the UK, has resigned from parliament. Feeney's decision will prompt a by-election in his Melbourne seat in Batman. 

Key Focus ahead

Thursday’s macro calendar will be dominated by a raft of Euro area final manufacturing PMI reports and the UK manufacturing PMI data, which will keep the EUR, GBP traders busy. Meanwhile, in the NA session, a series of economic releases are due on the cards from the US docket, with the main focus likely to be on the ISM manufacturing PMI and jobless claims.

EUR/USD headed back to 1.2450, EZ PMIs in the pipe

EUR/USD managed to find some support in the 1.2390 region during New York yesterday and is currently making higher lows through Tokyo. Despite the recent turnaway from the multi-year high of 1.2537…

GBP/USD - Neutral bias in options market ahead of UK Mfg. PMI

GBP/USD ran into bids at 1.3980 on Tuesday and jumped to 1.4233 yesterday, adding credence to Tuesday's bullish outside day candle and indicating scope for a break above the recent high of 1.4345.

GBPUSD: Remains very choppy and is probably best left alone right now

Sterling had a choppy session, falling to 1.4121 after EU officials rejected the City of London’s Brexit blueprint for banks before rallying strongly into the London month-end fix, reaching 1.4213 and then ending the day at 1.4190.

GMT
Event
Vol.
Actual
Consensus
Previous
Thursday, Feb 01
00:30
50.7
 
49.9
00:30
54.8
54.4
54.4
00:30
-5.5%
11.5%
18.1% Revised from 17.1%
00:30
-20.0%
-8.0%
12.6% Revised from 11.7%
00:30
2.0%
-0.8%
-1.6%
00:30
2.8%
-8.0%
-3.0%
01:45
51.5
51.3
51.5 Revised from 51.7
04:00
 
 
2.95%
04:00
 
 
3.61%
04:00
 
 
0.71%
05:30
 
-8.9%
-5.9%
06:00
 
 
59.1
06:00
 
 
52
06:45
 
2
-2
07:00
 
2.5%
2.6%
07:00
 
0.2%
0.6%
07:30
 
 
60.4
08:00
 
 
55
08:00
 
 
60
08:15
 
55.7
55.8
08:15
 
1.5%
-0.2%
08:30
 
 
7.5%
08:30
 
 
59.8
08:30
 
64.0
65.2
08:45
 
57.5
57.4
08:50
 
58.1
58.1
08:55
 
61.2
61.2
09:00
 
 
$13.6B
09:00
 
 
53.1
09:00
 
 
9.4%
09:00
 
 
378.7K
09:00
 
59.6
59.6
09:30
 
56.5
56.3
n/a
 
 
1.525%
n/a
 
 
-0.005%
n/a
 
 
0.45%
10:00
 
 
6,121.05B
n/a
 
 
0.79%
11:00
 
 
4.7%
11:00
 
 
0.2%
12:00
 
 
52.4
12:30
 
 
32.423K
13:00
 
 
40.636
13:00
 
 
$442.8B
13:30
 
1.928M
1.937M
13:30
 
238K
233K
13:30
 
1%
3%
13:30
 
0.8%
-0.2%
14:30
 
54.8
54.7
14:45
 
54.9
55.5
15:00
 
68
69
15:00
 
58.8
59.3 Revised from 59.7
15:00
 
0.4%
0.8%
15:30
 
-102B
-288B
20:00
 
 
20:00
 
 
235.21B
20:30
 
17.2M
17.9M
21:45
 
 
10.8%
21:45
 
 
8%
23:00
 
 
5.67B
23:50
 
11.0%
11.2%
Friday, Feb 02
00:01
 
 
103.2
00:30
 
0.2%
0.2%
00:30
 
1.2%
1.6%
07:00
 
 
0.55%
08:00
 
 
€718M
09:00
 
 
87.08K
09:00
 
 
2.4%
09:30
 
52.6
52.2
10:00
 
 
0.3%
10:00
 
 
0.4%
10:00
 
 
1%
10:00
 
 
0.9%
10:00
 
3.2%
2.8%
10:00
 
0.1%
0.6%
11:30
 
 
11.1%
11:30
 
 
$414.78B
12:00
 
 
-6.15B
12:00
 
 
2%
13:00
 
 
1.8%
13:30
 
34.5
34.5
13:30
 
2.6%
2.5%
13:30
 
175K
148K
13:30
 
4.1%
4.1%
13:30
 
0.3%
0.3%
13:30
 
62.8%
62.7%
14:45
 
 
56.3
15:00
 
95.0
94.4
15:00
 
0.6%
1.3%
18:00
 
 
759
19:30
 
 
$166.5K
19:30
 
 
$214.7K
19:30
 
 
716.7K
19:30
 
 
£33K
19:30
 
 
¥-122.9K
19:30
 
 
€144.7K
19:30
 
 
$16.7K
21:00
 
 
2.5%

 

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