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Forex - AUD/USD slips lower in light trade

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Investing.com - The Australian dollar slipped lower against its U.S. counterpart in light trade on Wednesday, although demand for the greenback remained under pressure amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.

AUD/USD hit 0.8952 during late Asian trade, the session low; the pair subsequently consolidated at 0.8963, shedding 0.28%.

The pair was likely to find support at 0.8907, Tuesday's low and resistance at 0.9072, the high of July 31.

The greenback remained under pressure after recent U.S. economic reports led to further uncertainty over whether the Fed will soon scale back its stimulus program.

In Australia, official data earlier showed that home loans rose 2.7% in June, beating expectations for a 2% increase. May's figure was revised down to a 1.7% rise from a previously estimated 1.8% increase.

The Aussie was lower against the New Zealand dollar with AUD/NZD declining 0.43%, to hit 1.1326.

Also Wednesday, official data showed that the number of employed people in New Zealand rose by 0.4% in the second quarter, in line with expectations, after a 1.7% increase in the previous quarter.

The report also showed that the unemployment rate in New Zealand ticked up to 6.4% in the last quarter, from 6.2% in the three months to March, compared to expectations for a rise to 6.3%.

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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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