The Australian and New Zealand dollars advanced after reports showed better-than-expected industrial production and retail sales in China, boosting the export outlook for the South Pacific nations. The so-called Aussie and kiwi reversed earlier declines versus their U.S. counterpart. China’s central bank governor and statistics chief signaled October data to be published from today will show growth improving this quarter in the world’s second-largest economy. Australia’s currency weakened earlier after the Reserve Bank reduced its 2013 growth forecast. “Chinese data has visibly improved,� said Greg Gibbs, a senior currency strategist at Royal Bank of Scotland Group Plc in Singapore. “It continues to promote a sense that China’s economy is stabilized and may be improving. It’s consistent with a firming Australian dollar.� The Australian dollar rose 0.2 percent to $1.0423 as of 5:02 p.m. in Sydney, poised for a 0.8 percent weekly gain. New Zealand’s currency advanced 0.3 percent today to 81.69 U.S. cents. It has dropped 1 percent since Nov. 2, the biggest decline among the U.S. dollar’s major peers. China’s National Bureau of Statistics said industrial production rose 9.6 percent last month from a year earlier after a 9.2 percent advance in September. Economists surveyed by Bloomberg News had predicted a 9.4 percent gain. Retail sales climbed 14.5 percent in October from a year before following a 14.2 percent gain in September. That compares with analyst projections for a 14.4 percent increase in a separate poll. To contact the reporter on this story: Kristine Aquino in Singapore at kaquino1@bloomberg.net To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net

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