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Forex - AUD/USD holds steady, eyes on U.S. jobless claims

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Investing.com -

Investing.com - The Australian dollar was steady against its U.S. counterpart on Thursday, after a report showed that inflation expectations in Australia ticked lower last month and as investors eyed the release of U.S. jobless claims data later in the day.

AUD/USD hit 0.9288 during late Asian trade, the session low; the pair subsequently consolidated at 0.9230, inching down 0.04%.

The pair was likely to find support at 0.9265, Wednesday's low and resistance at 0.9320, Wednesday's high.

In a report, the Melbourne Institute said that inflation expectations for the next year in Australia slipped to 3.1% in July, from 3.8% in June.

Meanwhile, sentiment on the greenback remained vulnerable after the Commerce Department reported on Wednesday that U.S. retail sales were flat last month, disappointing expectations for a 0.2% increase.

Core retail sales, which exclude auto sales, rose just 0.1% in July, compared to expectations for a 0.4% gain.

The Aussie was lower against the New Zealand dollar, with AUD/NZD shedding 0.24% to 1.0974.

Also Thursday, official data showed that retail sales in New Zealand rose 1.2% in the last quarter, beating expectations for an increase of 1.0%. Retail sales for the first quarter were revised to a 0.8% gain from a previously estimated 0.7% rise.

Core retail sales, which exclude automobiles and gas stations, advanced 1.2% in the second quarter, compared to expectations for a 1.1% rise. In the three months to April, core retail sales increased 1.0%, up from a previously estimated 0.8% gain.

A separate report showed that the New Zealand Business Manufacturing Index ticked down to 53.0 last month, from a reading of 53.4 in June, whose figure was revised up from a previously estimated 53.3.

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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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