Australian, NZ Dollars Climb Amid Rising Risk Appetite

The Australian and NZ dollars advanced against their major counterparts in the Asian session on Tuesday, as Asian markets were mostly higher, following the broadly positive cues from Wall Street overnight as traders cheered solid earnings results.

U.S. Treasury Secretary Janet Yellen held a video call with China's Vice Premier Liu He and discussed about the macroeconomic situation and bilateral relations.

The U.S. Treasury said that Yellen talked about issues of concern and expressed willingness to hold future discussions with China.

China's top economic planner is working out on a mechanism to stabilise coal prices that will allow prices to move within a reasonable range.

The new process will be based on a benchmark price plus a floating range, after assessing costs, reasonable margins and market changes, the NDRC said.

The aussie appreciated to 5-day highs of 0.7518 against the greenback and 85.66 against the yen, following its prior lows of 0.7484 and 85.11, respectively. The aussie is poised to find resistance around 0.73 against the greenback and 84.00 against the yen.

Reversing from its early lows of 1.5508 against the euro and 0.9264 against the loonie, the aussie moved up to near a 6-month high of 1.5432 and a fresh 5-week high of 0.9304, respectively. Next key resistance for the aussie is seen around 1.52 against the euro and 0.94 against the loonie.

The aussie edged up to 1.0481 against the kiwi, off its prior low of 1.0444. If the aussie rises further, 1.06 is possibly seen as its next resistance level.

The kiwi hit a 4-day high of 81.78 against the yen and a 5-day high of 1.6164 against the euro, rising from its previous lows of 81.35 and 1.6214, respectively. The next possible resistance for the kiwi is seen around 84.00 against the yen and 1.59 against the euro.

The kiwi came off from an early low of 0.7154 against the greenback, with the pair trading at 0.7177. The kiwi is likely to find resistance around the 0.73 level.

Looking ahead, U.S. consumer confidence index for October, new home sales for September, FHFA's house price index and S&P/Case-Shiller home price index for August will be out in the New York session.