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FOREX-Yen takes a step back, Australian dollar edges higher

SYDNEY/ SINGAPORE, May 5- The yen showed signs of fatigue on Thursday after stepping back from recent peaks, while the greenback was supported by optimism the U.S. economy could bounce back after nearly stalling in the first quarter. Prime Minister Shinzo Abe on Wednesday warned Japan will act if necessary to weaken the yen, although many believe the bar is high for...

Source: Reuters

China's yuan slips on softer midpoint, regains ground on corporate demand

SHANGHAI, May 5- The yuan started Thursday with a slide, after the central bank set a softer midpoint, but recouped much of the loss as companies began snapping up the currency as it neared a one-month trough, traders said. Prior to market open, the People's Bank of China set the midpoint rate at 6.5128 per dollar, 0.28 percent weaker than the previous fix of 6.4943, as...

Source: Reuters

GLOBAL MARKETS-Asia shares slip for 7th session, bonds well bid

*Asia shares ex- Japan down 5 pct in past two weeks. The patchy outcomes left Shanghai stocks down 0.2 percent while trade across the region was stifled by a holiday in Japan. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, and has now shed 5 percent in just two weeks.

Source: Reuters

GRAINS-Wheat near 3-week low as U.S. crop tour finds above average yields

SINGAPORE, May 5- Chicago wheat futures lost ground on Thursday with the market hitting its lowest in almost three weeks as a closely watched crop tour forecast above average yields in the U.S. Chicago Board Of Trade most-active wheat contract fell to a low of $4.67-1/ 2 a bushel- the weakest since April 15. Soybeans rose 0.1 percent to $10.34-1/ 2 a bushel while corn...

Source: Reuters

Barclays: No real sign of turnaround for JPY

Risk aversion will continue to put pressure on USD/JPY, says Barclays' Asia FX and rates strategy head Mitul Kotecha.

Source: CNBC.com

Yen weakens a touch but intervention signal not heeded

The yen weakened but remained close to an 18-month peak, with investors unconvinced by a signal that Japan could step in to weaken the currency.

Source: Reuters

China services sector growth cools in April, private survey shows

The China Caixin services purchasing managers' index (PMI) came in at 51.8 for April, continuing to show expansion, but marking a moderation from 52.2 in March.

Source: CNBC.com

GRAINS-Wheat hits near 3-week low on widely watched crop tour findings

*Crop scouts on the second day of the annual three-day tour of Kansas hard red winter wheat fields projected an average yield of 49.3 bushels per acre in the southwestern portion of the state, up from tour findings of 34.5 bushels a year ago. *Winter wheat prospects in southwest Kansas are above average as recent rains benefited crops after much drier...

Source: Reuters

FOREX-Yen takes a step back, dollar enjoys a small bounce

SYDNEY, May 5- The yen showed signs of fatigue early on Thursday having taken a step back from recent peaks, while the greenback firmed broadly on some optimism the U.S. economy would bounce back after nearly stalling in the first quarter. Prime Minister Shinzo Abe on Wednesday warned Japan will act if necessary to weaken the yen, though many believe the bar is high...

Source: Reuters

GLOBAL MARKETS-Asia shares fall for seventh session, bonds bid

*Asia shares ex- Japan down 5 pct in past two weeks. Activity was sparse with Japan still on holiday and many investors taking cover ahead of the U.S. jobs report on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent, to be down 5 percent over the past two weeks.

Source: Reuters