Forex - Aussie weaker in early Asia ahead of NAB survey, China HSBC PMI

Investing.com - The Aussie trended weaker in early Asia on Thursday as investors looked ahead to a business confidence and conditions survey at home and China manufacturing data abroad.

AUD/USD changed hands at 0.7746, down 0.12%, while USD/JPY traded at 119.99, up 0.06%. EUR/USD traded at 1.0723, down 0.02%.

In Australia is the first quarter NAB business confidence and business conditions survey at 1130 Sydney (0130 GMT). The important number to watch would be capex plans for next 12 months for any significant increase, given the March survey showed a rise.

In China, the HSBC (LONDON:HSBA) flash manufacturing PMI is due at 0945 (0145 GMT), a report which could indicate that the sector shrank for a third straight month
in April after March's final 49.6.

The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, held at 98.24, flat.

Overnight, the Swiss franc plunged more than 1.6% against the dollar on Wednesday, after the Swiss National Bank curtailed the number of deposit holders that are exempt from negative interest rates.

The negative interest rates will now be applicable to holders in certain public accounts, including PUBLICA, the confederation's federal pension fund and the Central Bank's own pension fund. The policy move could be viewed as an indication that the Swiss National Bank has been ineffective in driving capital away from the franc.

Under the new policy, the groups will be charged a rate of 0.75% on deposits exceeding CHF 10 million. A select group of deposit account holders will still be exempt from the negative interest rates, according to the SNB.

"In the future, the only sight deposit accounts to be exempt from negative interest will be those of the central Federal Administration and the compensation funds for old age and survivors’ insurance, disability insurance and the fund for loss of earned income," the SNB said in a statement.

The Federal Housing Finance Agency (FHFA) also said Wednesday that its House Price Index (HPI) ticked up 0.7% in February, above a 0.4% increase a month earlier. The index, which covers single-family housing by evaluating data compiled by Fannie Mae and Freddie Mac, increased 5.4% on a year-over-year basis. In its previous monthly report, the FHFA said the index rose 5.1% from its level during the same period last year.