WELLINGTON/SYDNEY, May 1 (Reuters) - The Australian and New Zealand dollars were firm on Wednesday but marking time as investors looked to Chinese data and bet that the Federal Reserve will stick to its easy money policies for a while yet.
* The Aussie hovering around $1.0365, little changed from Tuesday's late local level. It touched a two-week high of $1.0386 overnight.
* Aussie seen supported initially at the 50-day moving average at $1.0348 and below that $1.0305, with $1.0398/00, the 200-day moving average, a solid hurdle higher.
* The New Zealand dollar also holds its ground at $0.8560 from Tuesday's $0.8557, having hit a two-week high of $0.8587 overnight.
* Kiwi support seen at $0.8540 with offers lurking above $0.8600.
* Chinese NBS manufacturing PMI due later in the day, with expectations for a slight lift to 51.0 in April, from 50.9 the previous month. Recent Chinese data has tended to surprise on the downside and a repeat here could see the Aussie lose ground.
* The U.S. dollar falls to its lowest level against a basket of currencies in two months as U.S. data backs view that the Federal Reserve will continue its easy money policy for some while yet.
* Data shows business activity in the U.S. Midwest unexpectedly shrank in April to its lowest since September 2009. Yet a report shows U.S. home prices rose in February at their fastest rate in almost seven years and U.S. consumer confidence perks up.
* The Federal Reserve begins a two-day meeting with some expecting it to issue a relatively dovish sounding statement in response to recent weak economic data, which will see the Fed continue its bond-buying programme.
* Inflation in the euro zone hits a three-year low and unemployment rises to a record high; German retail sales unexpectedly fell in March, and Spain's economy shrank for the seventh straight quarter in the first three months of the year.
* The data backs the view that the European Central Bank, which meets on Thursday, will cut rates. A narrow majority of economists expecting a 25-basis-point cut, according to a Reuters poll.
* The loose money policies in the U.S., euro zone, and Japan all contributing to the strength of the Antipodean currencies.
* The Antipodean currencies a hint softer against the euro and yen but within recent ranges.
* Australia has PMI and housing data, and a speech by Reserve Bank of Australia assistant governor Edey on the financial stability role of central banks.
* Australian debt futures touch softer, with the three-year contract down 0.01 points to 97.440, while the 10-year contract falls 0.02 points to 96.895.
* New Zealand government bonds trade mostly flat but with a hint of a bid tone at longer end of the curve.
(Australia and New Zealand bureaux) Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX
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