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Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Australian government bonds slumped on Wednesday as a spate of rousing manufacturing PMI from around the world seemed to bode well for the country’s goods exports.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose 2 basis points to 2.694 percent, the yield on the long-term 30-year note climbed nearly 2 basis points to 3.403 percent and the yield on short-term 2-year down 1 basis point to 1.994 percent by 03:30 GMT.
The global manufacturing PMI, published by Markit, continued its recent upward trend in December, increasing to 54.5 on rising international demand for commodities. Australia is the world's leading exporter of iron ore, and a major exporter of coal, gold, copper and liquefied natural gas.
From the United States, Treasuries saw downward pressure to open 2018 during a relatively quiet session light on data of any great significance, highlighted largely by modest upward revisions to final Markit US manufacturing PMI data for December, which increased to 55.1, marking its highest reading since March 2015. On balance, the selling was largely an extension of the weakness that defined the European session, though continued into the afternoon.
The market will now focus on the minutes from the 12-13 December FOMC meeting on Wednesday and the December employment report on Friday.
Meanwhile, the S&P/ASX 200 index traded 0.02 percent lower at 6,025.5 by 03:30 GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained slightly bearish at -80.21 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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