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Forex - AUD/USD unchanged ahead of Bernanke speech

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Forexpros - The Australian dollar trimmed losses against its U.S. counterpart on Thursday, as markets looked to a speech by Federal Reserve Chairman Ben Bernanke for indications of a fresh round of monetary stimulus.

AUD/USD pulled back from 1.0427, the daily low, to hit 1.0476 during late Asian trade, unchanged over the day.

The pair was likely to find support at 1.0361, the low of August 22 and resistance at 1.0531, Wednesday's high.

Market sentiment strengthened after government data on Wednesday showed U.S. orders for long lasting manufactured goods jumped by a seasonally adjusted 4.0% in July, doubling expectations for a 2.0% gain.

But investors remained concerned that Fed chair Bernanke would not point to another round of bond-buying when he speaks Friday at the central bank's conference in Jackson Hole, Wyoming.

The Aussie was higher against the yen, with AUD/JPY rising 0.18% to hit 80.76.

Later in the day, the U.S. was to publish government data on initial jobless claims.

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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.

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