Investing.com - The Australian dollar rose against its U.S. counterpart on Monday, boosted by strong manufacturing data out of China and positive Australian economic reports.
AUD/USD hit 0.9168 during late Asian trade, the pair's highest since November 26; the pair subsequently consolidated at 0.9166, climbing 0.61%
The pair was likely to find support at 0.9056, the low of November 29 and a two-month low and resistance at 0.9250, the high of November 22.
A report earlier showed that China’s final HSBC Purchasing Managers Index inched up to 50.8 in November, up from a preliminary reading 50.4 and above expectations for a reading of 50.5.
The data was published one day after a government report showed that China’s manufacturing PMI held steady at an 18-month high of 51.4 in November, compared to forecasts for a decline to 51.1.
China is Australia's biggest export partner.
In Australia, official data showed that building approvals declined 1.8% in October, less than the expected 5% drop, after an upwardly revised 16.9% increase the previous month.
A separate report showed that company operating profits in Australia rose 3.9% in the third quarter, beating expectations for a 1% increase, after an uwardly revised 0.4% rise in the three months to June.
The Aussie was higher against the euro with EUR/AUD retreating 0.52%, to hit 1.4844.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak at an event in Washington, while the Institute of Supply Management is to release its manufacturing PMI.
AUD/USD hit 0.9168 during late Asian trade, the pair's highest since November 26; the pair subsequently consolidated at 0.9166, climbing 0.61%
The pair was likely to find support at 0.9056, the low of November 29 and a two-month low and resistance at 0.9250, the high of November 22.
A report earlier showed that China’s final HSBC Purchasing Managers Index inched up to 50.8 in November, up from a preliminary reading 50.4 and above expectations for a reading of 50.5.
The data was published one day after a government report showed that China’s manufacturing PMI held steady at an 18-month high of 51.4 in November, compared to forecasts for a decline to 51.1.
China is Australia's biggest export partner.
In Australia, official data showed that building approvals declined 1.8% in October, less than the expected 5% drop, after an upwardly revised 16.9% increase the previous month.
A separate report showed that company operating profits in Australia rose 3.9% in the third quarter, beating expectations for a 1% increase, after an uwardly revised 0.4% rise in the three months to June.
The Aussie was higher against the euro with EUR/AUD retreating 0.52%, to hit 1.4844.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak at an event in Washington, while the Institute of Supply Management is to release its manufacturing PMI.