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Forex News: Australian Dollar Appreciates As China Data Lifts Sentiment

Australian Dollar Appreciates As China Data Lifts Sentiment

12/31/2021 - 02:51:00 (RTTNews)

(RTTNews) - The Australian dollar climbed against its major counterparts in the Asian session on Friday, as China's factory and service sector activities rose in December, helping ease worries about a slowdown in the growth.

Data from the National Bureau of Statistics showed that China's manufacturing activity continued to expand in December.

Service sector activity accelerated at a slightly faster pace in December, albeit less than forecasts.

Stock markets in Japan and South Korea remain closed, while those in Australia, Hong Kong and Singapore close early for New Year's Eve.

Meanwhile, coronavirus cases surged across Australia, with New South Wales reporting 21,151 new daily infections on Thursday.

The aussie moved up to 0.7261 against the greenback, 1.5579 against the euro and 83.58 against the yen, up from its early lows of 0.7244, 1.5630 and 83.33, respectively. The aussie is seen finding resistance around 0.74 against the greenback, 1.53 against the euro and 86.00 against the yen.

The aussie was up at 1.0633 against the kiwi and 0.9248 against the loonie, off its early 4-day low of 1.0597 and a 9-day low of 0.9226, respectively. The next likely resistance for the aussie is seen around 1.09 against the kiwi and 0.94 against the loonie.

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