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Forex - AUD/USD higher after Australian data

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Investing.com - The Australian dollar was higher against its U.S. counterpart on Thursday, after the release of positive building approvals data out of Australia, while the U.S. dollar's weakness against the yen led the greenback lower against all the other major currencies.

AUD/USD hit 0.9697 during late Asian trade, the pair's highest since May 24; the pair subsequently consolidated at 0.9673, climbing 0.41%.

The pair was likely to find support at 0.9584, the session low and resistance at 0.9777, the high of May 23.

Official data earlier showed that building approvals in Australia rose 9.1% in April, beating expectations for a 4% increase, after a 5.5% decline the previous month.

A separate report showed that private capital expenditure in Australia fell 4.7% in the first quarter, compared to expectations for a 0.8% rise, after a 2.1% decline in the previous quarter.

Meanwhile, investors were looking ahead to the weekly U.S. report on jobless claims later in the global day amid ongoing speculation over whether the Federal Reserve is moving closer to scaling back its USD85 billion-a-month asset purchase program.

The Aussie was higher against the euro with EUR/AUD shedding 0.25%, to hit 1.3394.

Later Thursday, the U.S. was to release data on pending home sales.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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