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Forex News: Australian Dollar Climbs After Positive China Data

Australian Dollar Climbs After Positive China Data

12/31/2019 - 02:08:00 (RTTNews)

(RTTNews) - The Australian dollar strengthened against its most major counterparts in the Asian session on Tuesday, as China's manufacturing sector expanded for the second straight month in December.

Data from the National Bureau of Statistics showed that the manufacturing Purchasing Managers' Index held steady at 50.2 in December.

The score was forecast to fall to 50.0.

The factory PMI has stayed above 50 for the second consecutive month.

The aussie rose to 1.0415 against the kiwi from Monday's closing value of 1.0395. The next likely resistance for the aussie is seen around the 1.06 level.

The aussie firmed to 0.7009 against the greenback, its biggest since July 23. The aussie may possibly face resistance around the 0.71 level.

The Australian currency that ended yesterday's trading at 1.6010 against the euro edged higher to 1.5988. The aussie is seen finding resistance around the 1.57 level.

In contrast, the aussie held steady against the yen, after falling to a 4-day low of 76.06 at 10:00 pm ET. At yesterday's close, the pair was worth 76.15.

Looking ahead, U.S. FHFA's house price index and S&P/Case-Shiller home price index for October and consumer sentiment index for December are due out in the New York session.

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