Sept 23: AUD/USD rises, NZD/USD almost unchanged, China PMI supports

Sept 23: AUD/USD rises, NZD/USD almost unchanged, China PMI supports

23 September 2014, 09:23
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AUD/USD hit 0.8923 during late Asian trade; the pair subsequently consolidated at 0.8909, gaining 0.41%.

NZD/USD hit 0.8103 during late Asian trade, the session low; the pair subsequently consolidated at 0.8120, inching down 0.01%. The pair was likely to find support at 0.8073, the low of September 17 and a seven-month low and resistance at 0.8206, the high of September 17.

China is New Zealand's second biggest export partner.

Data earlier showed that the HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 50.5 this month, from a reading of 50.2 in August, confounding expectations for a fall to 50.0.

Meanwhile, demand for the US dollar remained supported as signs that the economic recovery is making solid progress fuelled expectations that the Federal Reserve will hike interest rates sooner than markets are expecting.

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