XE Market Analysis: Europe – Apr 30, 2019

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A risk-off theme has taken a hold, which has driven AUD-JPY, a forex market proxy on risk appetite in global markets, 0.5% lower as AUD-USD sank to a two-session low at 0.7034 and USD-JPY to a three-week low at 111.35. Stock markets across Asia have continued to sputter today, this time following disappointing manufacturing PMI readings out of China, which signalled a deceleration in the pace of expansion in both private and official readings. The official reading fell back to just 50.1 from 50.4. Disappointing earnings from Samsung has also been in the mix.