Earlier in the Day:
It was a relatively busy start to the day on the economic calendar this morning. The Aussie Dollar and the Japanese Yen were in action early this morning, with economic data from China also in focus. Later this morning trade data from China will also be in focus.
For the Japanese Yen
In April, the Services PMI rose from 48.3 to 49.5, which was up from a prelim 48.3.
According to the finalized Markit survey,
- Output and new orders saw marginal declines at the turn of the quarter.
- Foreign demand for services declined at a faster pace than total new business.
- Job creation picked up at the most marked pace since May-2019.
- Firms remained confident that activity would expand over the coming 12-months.
- Hopes that a successful vaccination programme would stimulate a broad recovery in demand conditions supported both optimism and the pickup in job creation.
The Japanese Yen moved from ¥109.051 to ¥109.047 upon release of the figures. At…