The yen strengthened, with USD/JPY dipping to around 143.50, reflecting a market reaction to the relative upside surprise in Japanese data, the BoJ Tankan and the final manufacturing PMI for June.
A mixed set of results from Japan’s Q2 Bank of Japan Tankan survey offered a cautiously optimistic signal, with the overall tone more positive than expected—not by a wide margin, but enough to suggest resilience in Japanese business sentiment.
The headline index for large manufacturers improved, reflecting a modest recovery in confidence.
In contrast, sentiment among large non-manufacturers dipped slightly, as rising living costs continued to weigh on consumption.
Both manufacturers and services firms expect conditions to deteriorate in the next three months, tempering the upbeat read.
Japan’s final manufacturing PMI for June rose to 50.1 (flash: 50.4; prior: 49.4), marking the first expansion in 13 months, driven by a rebound in output and production optimism.
Meanwhile in China, the Caixin Manufacturing PMI jumped to 50.4 in June (forecast: 49.0; prior: 48.3), signalling a return to growth after the sharp dip in May. Domestic production and new orders improved, but external demand remained soft, with export orders still contracting and employment shrinking. Falling input and output prices highlight the fragile pricing power across the sector, despite signs of ongoing policy support.
The USD lost ground early but has since shown a bounce back. EUR/USD rose to poke breifely above 1.1800.
Gold was basically one-way trafiic higher.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about forexlive asia pacific fx news wrap china s caixin manufacturing pmi jumps into growth was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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