(RTTNews) - During Asian trading on Friday, the Australian dollar slipped against its major counterparts despite rising equities.
Tracking positive cues from the U.S. and European markets, where stocks posted strong gains overnight following the European leaders reaching an agreement on resolving the debt crisis in the eurozone, Asian stocks are trading higher today.
Thus far, Japan's Nikkei 225 index has gained 1.4 percent, New Zealand's NZX 50 index rose 0.9 percent, South Korea's Kospi advanced 0.8 percent, Taiwan's main index jumped 1.3 percent, China's Shangai Composite index edged up 0.9 percent, Hong Kong's Hang Seng was up 1.9 percent.
Australia's S&P/ASX 200 index and the broader All Ordinaries index gained 0.9 percent each.
The Australian dollar is currently worth 1.0670 against the US dollar and 80.95 against the yen, down from yesterday's close of 1.0729 and 81.48, respectively. If the aussie weakens further, it may likely target 1.050 against the greenback and 80.0 against the yen.
According to the data released by the Ministry of Economy, Trade and Industry, industrial output in Japan was down a seasonally adjusted 4.0 percent on month in September, falling for the first time in six months. That was well shy of forecasts for a decline of 2.1 percent following the 0.8 percent gain in August.
On an annual basis, industrial production was down 4.0 percent - again missing forecasts for a contraction of 2.3 percent after adding 0.4 percent in the previous month.
Meanwhile, core inflation prices in Japan were unchanged on month and rose 0.2 percent on year in September, the Ministry of Internal Affairs and Communications said. The annual reading matched forecasts and the previous month's reading. Overall nation CPI was flat both on month and on year. Forecasts for the annual reading suggested a 0.1 percent increase following the 0.2 percent rise in August.
According to another report from the same ministry, the unemployment rate in Japan came in at a seasonally adjusted 4.1 percent in September, with the number of unemployed persons falling to 2.75 million. That was better than forecasts for a reading of 4.5 percent after showing 4.3 percent in August.
Against the euro, the Australian dollar is now trading at 1.3290, compared to yesterday's closing value of 1.3236. On the downside, 1.340 is seen as the next target level for the Australian currency.
The Australian dollar that closed yesterday's trading at 1.0632 against the Canadian dollar is presently worth 1.0605. The next downside target level for the aussie-loonie pair is seen at 1.045.
(RTTNews) - The Australian dollar is now worth 1.3010 against the New Zealand dollar with 1.298 seen as the next downside target level. At yesterday's close, the aussie-kiwi pair was quoted at 1.3045.
Investors now focus on the European session, in which French consumer spending for September and the Swiss KOF leading indicator for October are slated for release.
Across the Atlantic, the U.S. personal income and spending for September, employment cost index for the third quarter and the Reuters/University of Michigan's final report on the consumer sentiment index for October are expected in the New York morning session.
