Andora Andrei

Active member
Aussie reports further revenues as Caixin China PMI supports

On Tuesday, the Australian dollar gained further in Asia, as market participants noted a better-than-expected private manufacturing PMI from China in a light regional day with financial markets in Japan unavailable, although tweets from President-elect Donald Trump on North Korea's nuclear program drew attention.

The currency pair AUD/USD reached 0.7220, rising 0.46%, while USD/JPY demonstrated 117.40, descending 0.09% on demand for safe-haven yen.

A further rally in production at Chinese manufacturers backed the higher PMI reading in December. Obviously, the rate of output growth surged to a 71-month peak, with some panelists commenting on stronger underlying demand as well as new client wins.

Overnight, the greenback managed to regain momentum lost during the previous two weeks against a basket of six key currencies on Monday.

During early Asia, the US dollar index rallied 0.37%, hitting 102.75e with many financial markets closed overnight.

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