Investing.com - The Australian dollar traded slightly higher against its U.S. rival during Thursday’s Asian session after some decent data out of China.
In Asian trading Thursday, AUD/USD inched up 0.01% to 0.9388. The pair was likely to find support at 0.9280, the low of September 30 and resistance at 0.9434, Tuesday’s high.
Earlier Thursday, China’s National Bureau of Statistics said the country’s official purchasing managers' index (PMI) for the non-manufacturing sector rose to 55.4 in September from 53.9 in August. Readings above 50 indicate expansion.
The services sector index followed the official manufacturing PMI on Tuesday, which showed China's factory activity edged up slightly in September, with small firms struggling in the face of overcapacity and weak demand, Reuters reported. China is the largest export market for Australia.
The China data arrived a day after data showed a larger-than-expected trade deficit for Australia last month. Another report showed the number of building permits issued in August fell 4.7% from a month earlier, following a 10.2% increase in July. Analysts had expected building permits to decline 2%.
On Thursday, US jobs figures reported by the ADP came in weaker than expected, reflecting another downturn in hiring for September. The August figure was revised lower from 176,000 to 159,000 while the September reading came in at 166,000, lower than the 177,000 estimate.
Investors remain pensive toward riskier currencies in the face of the U.S. government shutdown, the country’s first since the 1990s. In an interview after the close of U.S. markets Wednesday, President Obama said Wall Street should be "concerned" about the effects of the shutdown.
Elsewhere, AUD/JPY rose 0.21% to 91.59 while AUD/NZD jumped 0.32% to 1.1306.
In Asian trading Thursday, AUD/USD inched up 0.01% to 0.9388. The pair was likely to find support at 0.9280, the low of September 30 and resistance at 0.9434, Tuesday’s high.
Earlier Thursday, China’s National Bureau of Statistics said the country’s official purchasing managers' index (PMI) for the non-manufacturing sector rose to 55.4 in September from 53.9 in August. Readings above 50 indicate expansion.
The services sector index followed the official manufacturing PMI on Tuesday, which showed China's factory activity edged up slightly in September, with small firms struggling in the face of overcapacity and weak demand, Reuters reported. China is the largest export market for Australia.
The China data arrived a day after data showed a larger-than-expected trade deficit for Australia last month. Another report showed the number of building permits issued in August fell 4.7% from a month earlier, following a 10.2% increase in July. Analysts had expected building permits to decline 2%.
On Thursday, US jobs figures reported by the ADP came in weaker than expected, reflecting another downturn in hiring for September. The August figure was revised lower from 176,000 to 159,000 while the September reading came in at 166,000, lower than the 177,000 estimate.
Investors remain pensive toward riskier currencies in the face of the U.S. government shutdown, the country’s first since the 1990s. In an interview after the close of U.S. markets Wednesday, President Obama said Wall Street should be "concerned" about the effects of the shutdown.
Elsewhere, AUD/JPY rose 0.21% to 91.59 while AUD/NZD jumped 0.32% to 1.1306.