Commodity currencies were the star performers early in Asia on Monday in what would otherwise have been a featureless start to a heavy week of central bank policy meetings.
Investors bought both the Australian and New Zealand dollars after a survey on Sunday showed China’s factory growth held at an 18-month high in November, an outcome that was slightly ahead of expectations. Both Australia and New Zealand are highly leveraged to China’s economic cycle.
The Aussie rose 0.2 percent to $0.9118, while the kiwi advanced 0.5 percent to $0.8162. Both Antipodean currencies also gained ground on the yen, rising to 93.41 and 83.66.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015