Macroeconomic data from China was the focal point in the Asian trade today. According to the official data, China's Manufacturing PMI rose to 51.9 in May from the 51.4 in April. Experts say that the business activity expanded on the back of buoyant demand and higher prices for commodities. Japan released government data on industrial production for April which fell short of expectations. According to flash estimates, Japan's factory output increased 0.3% in April from a month earlier, following the 1.4% gain of March. Economists expected a 1.5% growth.
The Japanese yen is trading flat against the US dollar. The USD/JPY pair is hovering slightly below 109.00. The Australian dollar is showing resilience to the greenback. The Aussie remains unaffected by disappointing macroeconomic data. Australia's capital expenditure slowed down in the first quarter. The AUD/USD pair surpassed the level of 0.7580. Besides, the aussie found support from China's economic reports as Australia is the major trade partner of China. Today, the US dollar will depend on reports on the US housing market and unemployment claims in the US.