Investing.com - The Australian dollar was almost unchanged
against its U.S. counterpart on Wednesday, hovering near two-month
lows after mixed Australian data as expectations for the Federal
Reserve to soon scale back its stimulus program lent support to the
AUD/USD hit 0.9286 during late Asian trade, the session low; the
pair subsequently consolidated at 0.9296, easing 0.05%.
The pair was likely to find support at 0.9246, the low of September
15 and resistance at 0.9368, Tuesday's high.
The Westpac Banking Corporation said consumer sentiment rose 1.9%
in November, after a 2.1% decline the previous month.
A separate report showed that wage prices rose 0.5% in the third
quarter, disappointing expectations for a 0.7% increase, after a
0.7% rise in the three months to June.
Meanwhile, the greenback remained supported after last week's
stronger than forecast U.S. nonfarm payrolls report prompted
investors to bring forward expectations for a reduction in the
Fed's USD85 billion-a-month asset purchase program.
The Aussie was steady against the New Zealand dollar with AUD/NZD
inching down 0.03%, to hit 1.1310.
Also Wednesday, Reserve Bank of New Zealand Governor Graeme Wheeler
said interest rates will start being raised next year, due to the
rise in inflation, which is likely to drive the kiwi higher.
"The concern will be that the interest differential between New
Zealand and any of the advanced economies will widen," Wheeler
The comments came after, in its biannual financial stability
report, the central bank highlighted the overvalued housing market
as the main threat to the country's financial system.
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