Forex - Aussie gains in Asia as China PMIs in focus, capex disappoints
Published Nov 30, 2016 07:40PM ET
Aussie gains in Asia
Investing.com - The Aussie gained in early Asia on Thursday with China manufacturing data in focus.
AUD/USD rose 0.07% to 0.7387, while USD/JPY changed hands at 114.50, up 0.04%.
In Australia, the AIG manufacturing index jumped to 54.2 in November from 50.9 the previous month. Australia also reported private new capital expenditure dropped 4.0%, more than a 2.5% fall seen for the third quarter.
Japan reported its manufacturing PMI for November at 51.3, up from 51.1.
Ahead in China, the semi-official CFLP manufacturing index is due for November with a 51.0 level seen, a tick down from 51.2 the previous month. The CFLP non-manufacturing PMI last came in at 54.0. Then the Caixin manufacturing PMI is up with a 50.8 level seen for November, down from 51.2.
The U.S. dollar index, which measures the greenback against a basket of currencies, was last quoted up 0.64% to 101.63.
Overnight, the dollar rallied against the yen and the euro on Wednesday as data showed incomes and household spending grew at a rapid pace for the second straight month in October, a government report showed, demonstrating that consumers, rather than businesses, are supporting economic growth in the U.S.
Another economics report released today showed that private-sector hiring continued at a quick pace this month, showing the economy is stronger now than earlier this year. Additional reports are due out later this week on employment figures.
The Federal Reserve is poised to take a more strict view on monetary policy next month, and higher interest rates are expected to bolster the dollar, making the currency appealing to investors seeking yield. Additional interest rate increases may be in the offing during the first few months of the new Trump Administration.
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Written By: Investing.com
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