AUD/JPY unfazed by China’s upbeat NBS Manufacturing PMI
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AUD/JPY unfazed by China’s upbeat NBS Manufacturing PMI

  • AUD/JPY stays below 10-day SMA after China’s official PMI data.
  • NBS Manufacturing PMI crosses upbeat forecast, Non-Manufacturing PMI lags behind consensus and prior.

With the recently mixed activity data from China, AUD/JPY shows little reaction while taking rounds to 72.95 on early Monday.

China’s September month official purchasing managers’ index (PMI) data flashed mixed signals with headline NBS Manufacturing PMI beating 49.7 forecasts to 49.8 while Non-Manufacturing PMI declining below 54.2 market consensus to 53.7.

The pair traders were earlier confused between the US-China trade headlines as the White House is on its way to raising bars for portfolio flows to China but Chinese diplomat Wang Yi showed hopes of positive talks on October 10-11.

It should also be noted that Japan’s Retail Sales and Industrial Production data fail to offer clear direction.

Investors now look forward Caixin Manufacturing PMI, expected 50.2 versus 50.4 prior, in order to determine fresh direction.

Technical Analysis

The 10-day simple moving average (SMA) near 73.15 offers immediate resistance while an upward sloping trend-line since September 03 at 72.80 now can limit nearby declines.

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