Australian Dollar Climbs Amid Risk Appetite
14 Settembre 2018 - 06:00AM
RTTF2
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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