Investing.com – The Aussie surged to a 1-week high against the U.S. dollar on Thursday after China’s official news agency denied earlier reports that the country was losing confidence in its European investments.
AUD/USD climbed 2.31% during European morning trade to hit 0.8406, its highest since last Thursday.
The pair was likely to find support at 0.8189, Wednesday’s low, and resistance at 0.8637, the high of May 19.
Earlier in the day, the official Xinhua News Agency said China’s sovereign wealth fund will maintain its investments in the euro zone, and denied earlier reports suggesting it was losing confidence in investing money inside the 16-nation region.
Meanwhile, the Aussie soared versus the euro, with EUR/AUD shedding 1.28% to hit 1.4631.
Later in the day, the U.S. was due to release data on initial jobless claims, a key indicator of overall economic health. The country was also scheduled to publish a report on its gross domestic product, the broadest measure of economic activity.
AUD/USD climbed 2.31% during European morning trade to hit 0.8406, its highest since last Thursday.
The pair was likely to find support at 0.8189, Wednesday’s low, and resistance at 0.8637, the high of May 19.
Earlier in the day, the official Xinhua News Agency said China’s sovereign wealth fund will maintain its investments in the euro zone, and denied earlier reports suggesting it was losing confidence in investing money inside the 16-nation region.
Meanwhile, the Aussie soared versus the euro, with EUR/AUD shedding 1.28% to hit 1.4631.
Later in the day, the U.S. was due to release data on initial jobless claims, a key indicator of overall economic health. The country was also scheduled to publish a report on its gross domestic product, the broadest measure of economic activity.