2nd December 2013
The Australian dollar has advanced in forex trading markets today (December 2nd), boosted by positive economic reports for the country and above-estimate manufacturing data from China.
Both the HSBC purchasing managers' index (PMI) for China and the government's official PMI for the manufacturing sector were higher than anticipated in November.
These reports have boosted the Aussie dollar as China is Australia's largest export partner.
Official data published in Australia during the session showed building approvals dropped by 1.8 per cent in October, following an upwardly-revised 16.9 per cent gain in the previous month. The consensus estimate had been for a five per cent decline.
Federal Reserve chairman Ben Bernanke is set to speak in Washington later today, while the Reserve Bank of Australia holds its latest policy meeting tomorrow. Both central bank events are likely to impact on the Australian dollar's strength against its US counterpart.
As of 10:30 GMT, the Aussie was trading 0.26 per cent higher versus the greenback at $0.9132.
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