Aussie trims gains post eventless RBA, UK & EZ PMIs eyed

By FXStreet FXStreet (Mumbai) – The US dollar continues to get hammered as risk-off market profile dominates Asia with Asian indices extending their sell-off while traditional safe-havens such as JPY, EUR, gold etc. remained strongly bid. The Aussie kept its upbeat momentum intact on RBA’s status quo, clinging to 0.71 barrier.

Key headlines in Asia

RBA leaves rates on hold at 2%, AUD adjusting to commodity levels

Asian stocks deep in the red, China free-fall intensifies risk-off

China Caixin Aug final PMI at 47.3 vs 47.1 flash

China’s official Aug PMI as expected

Dominating themes in Asia – centered on JPY, AUD, NZD

A volatile Asia as Asian equities extends the drop led by Nikkei as the persisting risk-off dynamics continues to bolster the safe-haven bids for the yen, making the export sector less appealing to investors. The dollar-yen pair consolidates around 120.75 region with JPY bulls restricting any attempt to the upside.

The US dollar – the newly pronounced risk currency, was broadly dumped as the traders flocked to safety assets amid falling US and Asian equities. While Antipodeans kept the bid tone intact during Asia with the Kiwi gaining momentum backed by a tad better than expectations Caixin China manufacturing PMI report and …read more

Source:: FX Street