Investing.com – The Australian dollar climbed to a two-day high against its U.S. counterpart on Thursday, boosted by better-than-expected data on building permits and the country’s trade surplus.
AUD/USD hit 1.0145 during late Asian trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 1.0134, gaining 0.33%.
The pair was likely to find support at 1.0053, Wednesday’s low and resistance at 1.0223, the high of January 3.
The Australian Bureau of Statistics said the number of building permits granted rose by 8.7% in December from November, when they fell a revised 3.9%, easily beating expectations for a 1.6% increase.
A separate report showed the trade surplus was AUD1.98 billion in December, more than the forecast AUD1.6 billion surplus.
Meanwhile, some concerns over huge damage from Cyclone Yasi, a category five cyclone that hit north Queensland state overnight, eased as the storm missed directly hitting the city of Cairns.
The Aussie was also up0 against the euro, with EUR/AUD shedding 0.46% to hit 1.3609.
Later in the day, the U.S. was to publish its weekly report on initial jobless claims as well as data on labor costs, productivity and factory orders. In addition, the Institute of Supply Management was to publish its non-manufacturing PMI.
Also Thursday, the chairman of the Federal Reserve, Ben Bernanke was to speak at a public engagement.
AUD/USD hit 1.0145 during late Asian trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 1.0134, gaining 0.33%.
The pair was likely to find support at 1.0053, Wednesday’s low and resistance at 1.0223, the high of January 3.
The Australian Bureau of Statistics said the number of building permits granted rose by 8.7% in December from November, when they fell a revised 3.9%, easily beating expectations for a 1.6% increase.
A separate report showed the trade surplus was AUD1.98 billion in December, more than the forecast AUD1.6 billion surplus.
Meanwhile, some concerns over huge damage from Cyclone Yasi, a category five cyclone that hit north Queensland state overnight, eased as the storm missed directly hitting the city of Cairns.
The Aussie was also up0 against the euro, with EUR/AUD shedding 0.46% to hit 1.3609.
Later in the day, the U.S. was to publish its weekly report on initial jobless claims as well as data on labor costs, productivity and factory orders. In addition, the Institute of Supply Management was to publish its non-manufacturing PMI.
Also Thursday, the chairman of the Federal Reserve, Ben Bernanke was to speak at a public engagement.