Australian Dollar Higher Amid Rising Risk Appetite
September 27 2020 - 10:36PM
RTTF2
The Australian dollar appreciated against its most major
counterparts in the Asian session on Monday, as most Asian markets
rose following the positive cues from Wall Street on Friday and on
upbeat China data released over the weekend.
Data from National Bureau of Statistics showed that China's
industrial profits grew for the fourth straight month in
August.
Industrial profits rose 19 percent year-on-year to 612.81
billion yuan in August, following a 19.6 percent increase in
July.
Rising hopes for fresh stimulus also boosted sentiment. House
Speaker Nancy Pelosi said on Sunday that Democrats are working on
an aid package worth $2.4 trillion with Treasury Secretary Stephen
Mnuchin.
Investor focus on the first debate between U.S. President Donald
Trump and Democratic candidate Joe Biden on Tuesday.
The aussie strengthened to a 4-day high of 1.6473 against the
euro, after dropping to 1.6537 at 6:00 pm ET. On the upside, 1.62
is seen as its next likely resistance level.
The aussie reversed from its early lows of 0.7029 against the
greenback, 0.9405 against the loonie and 1.0719 against the kiwi
and rose to 0.7063, 0.9449 and 1.0769, respectively. The aussie is
seen finding resistance around 0.72 against the greenback, 0.96
against the loonie and 1.09 against the kiwi.
But the aussie eased off to 74.18 against the yen, from a high
of 74.43 set at 10:10 pm ET. The next possible support for the
aussie is seen around the 72.00 level.
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From Apr 2024 to May 2024
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From May 2023 to May 2024