Investing.com - The Australian dollar extended its post-election move higher against its U.S. counterpart during Tuesday’s Asian session.
In Asian trading Tuesday, AUD/USD rose 0.40% to 0.9266, the Aussie’s highest levels against the greenback since late July. The pair was likely to find support at 0.9038, the low of September 4 and resistance at 0.9345, the high of June 26.
The Aussie gained steam after the Citigroup Economic Surprise Index for China, which shows if the country’s data beat or missed expectations, touched a five-month high Monday, Bloomberg reported. Traders also embraced victory by conservative leader Tony Abbott in the race to become Australia’s next prime minister.
Data showed that job advertizements in Australia fell 2% in August, after a 1.10% decline the previous month.
A separate report showed that Australia's home loans rose 2.4% in July, beating expectations for a 2% increase, after a downwardly revised 2.6% rise the previous month.
Separately, improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown. Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
Data on Monday showed that Chinese consumer price inflation was up 2.6% year-on-year in August, in line with expectations. China is Australia's biggest export partner.
Elsewhere, AUD/JPY climbed 0.44% to 92.30. Earlier Tuesday, BoJ said that Japan’s M2 money stock was unchanged last month at 3.7%. Analysts expected a modest increase to 3.8%.
In a separate report, METI said that Japan’s tertiary industry activity index fell to -0.4% in August from -0.5% in July. The July number was revised lower from -0.3%. Analysts had expected Japanese tertiary industry activity index to fall -0.4% last month.
AUD/NZD rose 0.07% to 1.1523.
In Asian trading Tuesday, AUD/USD rose 0.40% to 0.9266, the Aussie’s highest levels against the greenback since late July. The pair was likely to find support at 0.9038, the low of September 4 and resistance at 0.9345, the high of June 26.
The Aussie gained steam after the Citigroup Economic Surprise Index for China, which shows if the country’s data beat or missed expectations, touched a five-month high Monday, Bloomberg reported. Traders also embraced victory by conservative leader Tony Abbott in the race to become Australia’s next prime minister.
Data showed that job advertizements in Australia fell 2% in August, after a 1.10% decline the previous month.
A separate report showed that Australia's home loans rose 2.4% in July, beating expectations for a 2% increase, after a downwardly revised 2.6% rise the previous month.
Separately, improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown. Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
Data on Monday showed that Chinese consumer price inflation was up 2.6% year-on-year in August, in line with expectations. China is Australia's biggest export partner.
Elsewhere, AUD/JPY climbed 0.44% to 92.30. Earlier Tuesday, BoJ said that Japan’s M2 money stock was unchanged last month at 3.7%. Analysts expected a modest increase to 3.8%.
In a separate report, METI said that Japan’s tertiary industry activity index fell to -0.4% in August from -0.5% in July. The July number was revised lower from -0.3%. Analysts had expected Japanese tertiary industry activity index to fall -0.4% last month.
AUD/NZD rose 0.07% to 1.1523.