Category: Forex
The Aussie gained in a busy data day in Asia on Tuesday underpinned by manufacturing data regionally and in particular China.Ahead the Reserve Bank of Australia reports its latest decision on interest rates with a steady 2% seen.AUD/USD traded at 0.7258, up 0.45%, while USD/JPY changed hands at 123.18, up 0.06%.The China official manufacturing PMI for November fell to 49.6, compared to 49.8 seen and the same level the previous month, while the Caixin manufacturing PMI rose to 48.6, compared to 48.3 expected and the same level for the previous month.In Japan, capital spending jumped 11.2%, compared to a 2.3% gain seen in the third quarter year-on-yearIn Australia, the AIG manufacturing index for November reached 52.5, a jump from 50.2 last month. As well, official data showed building approvals up 3.9%, compared to a 2.3% decline seen, while the current account deficit widened to A$18.1 billion, compared to a deficit of A$16.5 billion expected. Private house approvals in Australia fell 2.1%.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.08% to 100.18.Overnight, the dollar remained broadly supported at eight-month highs against the other major currencies on Monday, after the release of mixed U.S. data as mounting hopes for a December rate hike by the Federal Reserve continued to support.
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