Forex Flash: China PMI, anything south 50.5 would toll on the AUD and NZD – BNZ

FXstreet.com (Barcelona) - With very thin markets today in Asia-Pacific due to China closed for holiday and big part of the world getting ready for Labor day holiday, PMI China will be delivered at 01:00 GMT today, where “A tick down to 50.7 from 50.9 is expected,” says Bank of New Zealand. The analysts note: “The recent Chinese data tone has been disappointing so anything south of 50.5 would likely take a reasonable toll on the AUD and NZD,” they suggest.

“As usual, the AUD would be expected to suffer relatively more,” the bank adds, which could put more pressure on AUD/NZD. Last at 1.2105, BNZ has a take profit order at 1.20 on his “strategic short position,” they conclude.