Investing.com - The Australian dollar moved lower against the U.S. dollar Thursday, as European and U.S. stock markets declined providing buying incentive for the safe-haven greenback.
AUD/USD hit 0.9722 in early Asian trade, the pair’s highest Thursday; the pair subsequently consolidated at 0.9724, falling 0.59%.
The pair was likely to find support at 0.9692, Thursday’s low, and resistance at 1.0078, last Thursday’s high.
Earlier Wednesday, the U.S. Census Bureau reported that core durable goods orders fell in August to a seasonally adjusted -0.1, down from 0.7%.
Economists had forecast the figure to rise 0.2% last month.
Wall Street endured its first losing session in three, as Greek debt concerns and a dim corporate profit outlook sparked aggressive sell-offs.
The Dow Jones Industrial Average dropped 1.61% to 11,010.90, the Nasdaq Composite Index fell 2.17% to 2,491.59, and the S&P 500 shed 2.07% to close at 1,151.06.
Australian stocks mirrored sharp losses on European and U.S. markets, with the benchmark S&P/ASX 200 falling 1.69% to 3,970.90 in early Thursday trade.
Meanwhile, the Australian Dollar was down against both the euro and the Japanese yen, with EUR/AUD adding 0.62% to hit 1.3930 and AUD/JPY falling 1.02% to hit 74.14.
Monthly private sector credit data was due for release from the Reserve Bank of Australia later Thursday.