Australian Dollar Rises As U.S. Govt. Shutdown Concerns Ease
30 September 2021 - 2:44PM
RTTF2
The Australian dollar climbed against its major opponents in the
Asian session on Thursday, as Senate Majority Leader Chuck Schumer
said that Senators have reached a deal to avoid a government
shutdown on October 1.
The Senate will vote on legislation today, which will keep the
government funded through December 3.
Senate Republicans blocked the House plan on Monday amid clashes
over raising the debt ceiling.
Official data showed that China's service sector activity
expanded in September but factory activity contracted
unexpectedly.
Non-manufacturing PMI came in with a score of 53.2, moving up
into expansion after posting a score of 47.5 in August.
Data from the Australian Bureau of Statistics showed that
Australia building approvals rose a seasonally adjusted 6.8 percent
on month in August - coming in at 18,716.
That blew away forecasts for a decline of 5.0 percent following
the 8.6 percent drop in July.
The aussie advanced to 80.73 against the yen and 0.9180 against
the loonie, off its early lows of 80.26 and 0.9143, respectively.
The aussie is seen finding resistance around 82.5 against the yen
and 0.94 against the loonie.
The aussie jumped to 1.0484 against the kiwi, its strongest
level since August 20. If the aussie rises further, it may find
resistance around the 1.06 level.
Reversing from its early lows of 0.7170 against the greenback
and 1.6165 against the euro, the aussie edged up to 0.7215 and
1.6085, respectively. The next possible resistance for the aussie
is seen around 0.75 against the greenback and 1.59 against the
euro.
Looking ahead, Eurozone jobless rate for August will be released
in the European session.
At 8.00 am ET, Destatis is scheduled to issue German preliminary
consumer inflation for September.
The U.S. weekly jobless claims for the week ended September 25
and final GDP data for the second quarter are due out in the New
York session.
Federal Reserve Bank of New York President John Williams is
scheduled to deliver opening remarks at a webinar about the Fed's
pandemic response hosted by the bank at 10:00 am ET.
Federal Reserve Bank of Atlanta President Raphael Bostic will
speak about economic mobility at an online event hosted by Georgia
Tech University at 11:00 am ET.
At 12:30 pm ET, Federal Reserve Bank of Chicago President
Charles Evans will deliver a speech about the economic outlook at
an online event hosted by the Bendheim Center for Finance.
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