The Australian dollar is a US cent higher, rebounding after a strong selloff on Thursday.
At 1200 AEST on Friday, the local unit was trading at 104.79 US cents, up from 103.74 cents on Thursday.
CMC foreign exchange dealer Tim Waterer said the local currency had recovered some lost ground on Friday morning, following an earlier response to weak Chinese manufacturing numbers.
"The Aussie dollar has been creeping back up past the 104.50 (US cent) mark this morning," he said.
"It was starting to take on an over-sold appearance, having performed worse than its peers over the last 24 hours.
"It was the currency which reacted most adversely to the weak Chinese data yesterday."
HSBC Flash purchasing managers' index numbers for September showed activity in the country's manufacturing sector rose less that the market had expected to 47.8 from 47.6 in August.
Mr Waterer said a stronger Australian stock market on Friday had also boosted the local dollar's fortunes.
International events would continue to dominate the market towards the evening, he added.
"It will be a question of whether traders concentrate on the weak global growth story, or the recent actions of central banks around the world," he said.
Meanwhile, Australian bond futures prices were lower at noon.
At 1200 AEST on Friday, the December 10-year bond futures contract was trading at 96.820 (implying a yield of 3.180 per cent), down from 96.860 (3.140 per cent) on Thursday.
The December three-year bond futures contract was at 97.440 (2.560 per cent), down from 97.500 (2.500 per cent).
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