Investing.com - The Aussie drifted higher on Thursday ahead of key jobs data with expectations for a gain in employment, but a higher unemployment rate
In Australia, employment change figures for September are expected to show a gain of 15,000 jobs under a participation rate of 64.8%, up a tad from 64.7%, and an unemployment rate of 5.7%, up from 5.6% previously.
Investors also looked ahead to the final of three U.S. presidential debates that may throw up some insights on economic policy plans by contenders Donald Trump and Hillary Clinton.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 97.87.
Overnight, the dollar held steady against the other major currencies on Wednesday, still hovering within close distance of a seven-month peak as investors were digesting the release of mixed U.S. housing sector data.
The U.S. Commerce Department said that housing starts slumped 9.0% to 1.047 million units last month from August’s total of 1.150 million units, revised from the initial 1.142 million.
Analysts had expected a rise of 2.5% from the initial number to 1.175 million in August. Meanwhile, building permits rose 6.3% to 1.225 million units last month from 1.152 million in August. Economists had forecast a 0.9% gain to 1.165 million units in September.