ForexLive Asia FX news wrap: Australia Q2 GDP stronger than expected, China manufacturing PMI weaker.

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Forex news for Asia trading on Tuesday 31 August 2021  It was a data-heavy day. The two items of most focus were the Australian second-quarter economic growth report: a beat at +0.7% q/q (see bullets above for more) and the private-survey China manufacturing PMI (Caixin/Markit) which missed and slid into contraction at 49.2 (see bullets above) News flow was light. The COVID-19 situation in Australia and New Zealand deteriorated yet again with locally transmitted case counts rising on a bounce-back in numbers for Victoria and NZ (again, see bullets above for more). An October data for the Japanese general election seemed to firm up a little with PM Suga hinting an earlier poll is not his plan. Central bankers were mainly quiet during the session, with only a speech from Bank of Japan Deputy Governor Wakatabe. The People's Bank of China drained funds from the banking system today after a run of days where they added. USD/JPY has risen on the session
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