FOREX TradingCharts.com

Forex News: Australian Dollar Advances On Positive China Data

Australian Dollar Advances On Positive China Data

12/31/2020 - 02:30:00 (RTTNews)

(RTTNews) - The Australian dollar moved up against its major rivals during the Asian session on Thursday, as China's factory and service sector activities expanded in December, while the Covid vaccine developments and the approval of the Brexit deal by the U.K. Parliament supported demand for riskier assets.

Survey data from the National Bureau of Statistics showed that China's manufacturing sector growth moderated at the end of the year.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. A reading above 50 indicates expansion in the sector.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

The widening rollout of vaccines in several countries spurred hopes of a global economic recovery next year.

The passage of the $2.3 trillion stimulus package in the U.S. and prospects for additional stimulus in the near future also lifted sentiment.

The aussie climbed to 0.9820 against the loonie, its highest level since June 2018. On the upside, 1.00 is possibly seen as its next resistance level.

Breaking the key 0.77 level, the aussie firmed to a 2-1/2-year high of 0.7709 against the greenback. The aussie is seen finding resistance around the 0.82 level.

The aussie hit a 1-1/2-year peak of 79.48 against the yen from Wednesday's close of 79.27. The next possible resistance for the aussie is seen around the 82.00 level.

The aussie rallied to the strongest level since September 2019 versus the euro, at 1.5949. If the aussie rises further, 1.56 is seen as its next resistance level.

The aussie rebounded to 1.0669 against the kiwi, from a low of 1.0650 hit at 8:00 pm ET. The aussie is likely to find resistance around the 1.09 level.

Looking ahead, the U.S. weekly jobless claims for the week ended December 26 will be featured in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Mixed After U.S. Retail Sales Data (04 hr(s), 39 min(s), 51 sec(s) ago)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story»

Dollar Little Changed After U.S. Retail Sales Data (05 hr(s), 51 min(s), 51 sec(s) ago)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story»

Dollar Rises Ahead Of U.S. Retail Sales Data (05 hr(s), 54 min(s), 51 sec(s) ago)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story»

Pound Drops Amid Falling European Shares (07 hr(s), 03 min(s), 51 sec(s) ago)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story»

Euro Falls Vs Most Majors After ECB Minutes (06 hr(s), 45 min(s), 50 sec(s) ago)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story»

Euro Mixed Ahead Of ECB Minutes (06 hr(s), 54 min(s), 51 sec(s) ago)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank is slated to release the account of ...Full Story»

Indian Rupee Hits 10-day High Against U.S. Dollar (07 hr(s), 57 min(s), 51 sec(s) ago)
(RTTNews) - The Indian rupee strengthened against the U.S. dollar in the evening session on Thursd ...Full Story»

Dollar Higher As Yields Surge On Stimulus Prospects (11 hr(s), 24 min(s), 51 sec(s) ago)
(RTTNews) - The U.S. dollar was higher against its major counterparts in the Asian session on Thur ...Full Story»

Search

FOREX NEWS

Dollar Mixed After U.S. Retail Sales Data

01/15/2021 - 09:42 AM (RTTNews)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story>>

Dollar Little Changed After U.S. Retail Sales Data

01/15/2021 - 08:32 AM (RTTNews)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story>>

Dollar Rises Ahead Of U.S. Retail Sales Data

01/15/2021 - 08:28 AM (RTTNews)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story>>

Pound Drops Amid Falling European Shares

01/15/2021 - 07:19 AM (RTTNews)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story>>

Euro Falls Vs Most Majors After ECB Minutes

01/14/2021 - 07:36 AM (RTTNews)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.