The Australia and NZ dollars strengthened against the other major currecies in the Asian session on Wednesday after data showed that Chinese manufacturing sector slipped into contraction in December.
Data from HSBC showed that China's manufacturing sector slipped into contraction in December, posting a revised PMI score of 49.6.
That was up from the preliminary reading of 49.5 earlier this month, although it was down from 50.0 in November. It also moved below the boom-or-bust line of 50 that separates expansion from contraction.
The Australian dollar rose to more than a 3-week high of 1.4809 against the euro and a 2-week high of 0.8214 against the U.S. dollar, from yesterday's closing quotes of 1.4846 and 0.8181, respectively.
Against the NZ dollar, the aussie climbed to a 2-day high of 1.0468 from yesterday's closing quote of 1.0440.
The aussie, which ended yesterday's deals at 0.9496 against the Canadian dollar and 97.67 against the yen edged up to 0.9523 and 97.99, respectively.
If the aussie extends its uptrend, it is likely to find resistance around 1.45 against the euro, 0.83 against the greenback, 1.05 against the kiwi, 0.97 against the loonie and 99.50 against the yen.
The NZ dollar rose to 0.7846 against the the U.S. dollar and 93.65 against the yen, from yesterday's closing quotes of 0.7828 and 93.49, respectively.
Against the euro, the kiwi edged up to 1.5501 from yesterday's closing quote of 1.5523.
If the kiwi extends its uptrend, it is likely to find resistance around 0.79 against the greenback, 94.50 against the yen and 1.53 against the euro.
The material has been provided by InstaForex Company – www.instaforex.com