ForexLive Asia-Pacific FX news wrap: Yen weakened further

• The new action plan of China’s State Council includes more than 1 million new SEO trainings
• Australian Data: ANZ / Indeed Job Ads for April fell -0.3% m/m (+2.0% previously)
• Australian Monthly CPI for April 0.2% m/m (Previous 0.3%)
• There is no set reference rate for the CNY from the People’s Bank of China today, China’s holiday most days of the week
• Bank Jibbon S&P Global Japan Final Manufacturing PMI for April 49.5 (previously 49.2)
• South Korea’s exports fell 14% year-on-year in April, but semiconductor exports collapsed 41%.
• Fed meeting this week – Goldman Sachs preview: ‘signaling pause in June’
• The final manufacturing PMI for April in Australia slips into further contraction
• We are preparing for the Asian market holidays today, Monday, May 1, 2023
• China, Europe and the UK are preparing for a holiday on Monday – the markets are closed
• Weekend Data – Home sales in China rose for the third month in April
• This week’s RBA meeting – preview – held again for the second month in a row, Australian dollar vulnerable
• Berkshire Vice President Munger warns of “problems” for banks amid commercial real estate debt
• ICYMI – Fitch Ratings downgraded France to “AA-” from “AA”, stable outlook
• ICYMI: China printed a miserable April Manufacturing PMI, back into deflation
• Trade Ideas Topic – Monday 1st May 2023
• Monday Morning Opening Levels – Indicative Forex Rates – May 01, 2023
• Nasdaq Futures Technical Analysis and Price Forecast: Key Levels to Watch (target 13500)
• PNC Bank is the frontrunner in First Republic Auction – Report
• Newsquawk next week May 1-5: FOMC, NFP, ISMs, ECB, RBA, EZ CPI, NZ jobs
• The First Republic auction is underway. The deal was seen before the markets reopened
• Time’s up: FDIC prepares to put First Republic into receivership – report

The Japanese yen crosses extended their rally during the session here after the Bank of Japan’s policy decision announced on Friday. USD/JPY rose above 136.75 and EUR/JPY above 150.50.

Today’s important data came out over the weekend, as China’s manufacturing PMI fell unexpectedly in April, returning to contraction for the first time since December amid weak global demand.

• Japan’s Manufacturing PMI for April improved from March but remained contracting.
• In Australia, the April Manufacturing PMI slid into further contraction in April while the first indicator of inflation in the second quarter fell slightly but remains elevated.
• South Korea’s trade intensity declined, with year-on-year declines for both exports and imports larger than expected. More on all of these data points in the point link above.

The news flow was very light.

Apart from the yen pairs, the prices of the major forex currencies are traded in small ranges. Today was a holiday in China, Singapore and Hong Kong. The Golden Week holiday in China lasts most days of the week. Japan’s Golden Week holiday begins on Wednesday.

Cryptocurrency continued to be volatile, and BTC/USD quickly lost ground to trade below $28,500.

There have been (unconfirmed) reports of Russia firing more than 120 missiles at Ukraine, including the capital, Kiev.