Australian, New Zealand Dollars Advance Against Majors

The Australian and New Zealand dollars climbed against their major counterparts in the Asian session on Tuesday, as most Asian shares rose ahead of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping on the sidelines of the G20 summit later week.

The meeting scheduled to held in Buenos Aires is pivotal moment for the global economy, as investors await whether negotiations would dissipate trade tensions between the two sides.

That said, underlying sentiment remained cautious on U.S.-China trade tensions after U.S. President Donald Trump said in an interview with the Wall Street Journal that it was "highly unlikely" he would delay an increase in tariffs on Chinese goods to 25 percent from 10 percent.

Data from Statistics New Zealand showed that New Zealand logged a merchandise trade deficit of NZ$1.295 billion in October, representing 27 percent of exports.

That missed expectations for a shortfall of NZ$850 million following the NZ$1.560 billion deficit in September.

The aussie rose to 0.7240 against the greenback and 82.16 against the yen, from its early lows of 0.7213 and 81.83, respectively. If the aussie rises further, 0.74 and 84.00 are likely seen as its next resistance levels against the greenback and the yen.

The aussie climbed to a 6-day high of 0.9623 against the loonie and an 8-day high of 1.5597 against the euro, off its previous low of 0.9556 and a 4-day low of 1.5705, respectively. The aussie is likely to find resistance around 0.98 against the loonie and 1.54 against the euro.

Reversing from an early low of 1.0652 against the kiwi, the aussie edged up to 1.0691. The next possible resistance for the aussie is seen around the 1.08 mark.

The kiwi strengthened to 0.6800 against the greenback, off its early low of 0.6754. On the upside, 0.69 is possibly seen as the next resistance level for the kiwi.

The kiwi appreciated to 5-day highs of 77.24 versus the yen and 1.6671 against the euro, reversing from its early lows of 76.61 and 1.6774, respectively. The kiwi is poised to find resistance around 79.00 versus the yen and 1.64 against the euro.

Looking ahead, U.S. consumer confidence for November, Federal Housing finance agency's house price index and S&P Case-Shiller home price index for September are due in the New York session.

At 2:30 pm ET, Atlanta Fed President Raphael Bostic will participate in a panel discussion about the economy, regulation, financial innovation, and the future of payments at The Clearing House and Bank Policy Institute's Annual Conference in New York.