ForexLive AsiaPacific FX news wrap: Major FX tracks narrow ranges, July flash PMI kick off

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The
preliminary PMI reading from Japan for July showed at 52.1, unchanged
from the month before, as business activity register expansion for
the 7th
month in a row. Manufacturing remained in contraction while Services
remained firmly in expansion and down just slightly from June.</p><p>Australia’s
flash PMIs were not so encouraging, all 3 are in contraction in July.

</p><p>In
news flow there is not much to report of impact for forex.
</p><p>Central
bank news was only the People’s Bank of China setting the USD/CNY
reference rate well below the estimate again today. The Bank has
held the yuan stronger since its lows 3 weeks ago:</p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 +1%</p></li><li><p>
China’s
Shanghai Composite +0.3%</p></li><li><p>
Hong
Kong’s Hang Seng -1%</p></li><li><p>
South
Korea’s KOSPI +0.7%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 +0.05%

</p></li></ul><p>Bitcoin gave ground back during the session after a move up over the weekend. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.