ForexLive Asia-Pacific FX news wrap: China March Services PMI leaps higher | Forexlive

Earlier
this week we had a fall for the Caixin manufacturing PMI in China for
March but the services PMI out today for the month rose further from
its solid 55 in February to 57.8. Reopening has fuelled strong
services demand. The impact on major FX was subdued.

From
Australia were trade data for February. While exports fell, the fall
in imports was much more notable. The headlines will scream that
Australia recorded an improved trade surplus on the month, and indeed
it did, but the story is the slump in domestic demand. Both
consumption and capital goods dropped on the month.

We
had a few other, lower tier, data releases and barely any fresh news
of note.

FX
moves were characterised by a slightly stronger USD. EUR, GBP, AUD,
NZD, CAD, CHF all down to varying extents against the dollar. USD/JPY
dribbled lower early in the session but has retraced to be barely net
changed as I post.

If
you are taking time off over the four-day break across major markets
for Easter have a great time! I’ll be back on Tuesday, catch you
all then.

Asian
equity markets: