The Australian dollar drifted higher against its major counterparts in the late Asian session on Friday amid risk appetite, as investors cheered news of a new round of talks between the United States and China in coming days.

Chinese officials have welcomed an invitation from U.S Treasury Secretary Steven Mnuchin for new talks. However, U.S. President Donald Trump tempered market expectations, tweeting the U.S. is "under no pressure to make a deal with China."

Two-third of American companies in China said they have been hurt by the initial $50 billion in tariffs rolled out by the United States and China.

The Trump administration is readying tariffs on another $200 billion worth of Chinese goods, a move that many fear could escalate the conflict between the world's two largest economies.

Meanwhile, a raft of Chinese data painted a mixed picture of the economy.

Retail sales in China spiked 9.0 percent on year in August, the National Bureau of Statistics said, beating forecasts for an increase of 8.8 percent.

Industrial production advanced an annual 6.1 percent - matching forecasts and up from 6.0 percent in the previous month.

Fixed asset investment was up an annual 5.3 percent, shy of expectations for 5.6 percent and down from 5.5 percent a month earlier. The surveyed jobless rate came in at 5.0 percent - down from 5.1 percent in July.

The aussie edged up to 80.71 against the yen and 0.7209 against the greenback, from its early lows of 80.35 and 0.7177, respectively. On the upside, 82.00 and 0.73 are possibly seen as the next resistance levels for the aussie against the yen and the greenback, respectively.

The aussie rose to 1.0947 against the kiwi and 0.9366 against the loonie, reversing from its previous lows of 1.0919 and 0.9329, respectively. The aussie is seen finding resistance around 1.11 against the kiwi and 0.95 against the loonie.

The aussie advanced to 1.6230 against the euro, from a 2-day low of 1.6286 hit at 9:50 pm ET. Next key resistance for the aussie is seen around the 1.60 region.

Looking ahead, Eurozone trade data for July is due in the European session.

In the New York session, U.S. retail sales, import and export prices and industrial production, all for August, business inventories for July and University of Michigan's preliminary consumer sentiment index for September are scheduled for release.

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