Investing.com - The Australian dollar declined against its U.S. counterpart on Thursday, after the release of downbeat employment data out of Australia, although last week's U.S. jobs report continued to weigh on the greenback.
AUD/USD hit 0.9240 during late Asian trade, the pair's lowest since September 10; the pair subsequently consolidated at 0.9237, tumbling 0.99%.
The pair was likely to find support at 0.9117, the low of September 6 and resistance at 0.9480, the high of June 10.
Official data earlier showed that the Australian economy cut 10,800 jobs in August, after a downwardly revised 11,400 decline the previous month. Analysts had expected 10,000 jobs to be created last month.
Australia's unemployment rate ticked up to 5.8% in August, from 5.7% in July, in line with expectations.
In a separate report, the Melbourne Institute said inflation expectations slipped to 1.5% in August, from 2.3% the previous month.
Meanwhile, demand for the greenback remained under pressure after data last week showed that U.S. the economy added slightly fewer jobs than expected in August.
The soft data raised some doubts over whether the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
The Aussie was sharply lower against the New Zealand dollar with AUD/NZD plummeting 1.59%, to hit 1.1360.
Also Thursday, the Reserve Bank of New Zealand held its benchmark interest rate at a record-low 2.50% but added that increases “will likely be required next year” as the economy strengthens and inflation picks up.
Later in the day, the U.S. was to release data on jobless claims.
AUD/USD hit 0.9240 during late Asian trade, the pair's lowest since September 10; the pair subsequently consolidated at 0.9237, tumbling 0.99%.
The pair was likely to find support at 0.9117, the low of September 6 and resistance at 0.9480, the high of June 10.
Official data earlier showed that the Australian economy cut 10,800 jobs in August, after a downwardly revised 11,400 decline the previous month. Analysts had expected 10,000 jobs to be created last month.
Australia's unemployment rate ticked up to 5.8% in August, from 5.7% in July, in line with expectations.
In a separate report, the Melbourne Institute said inflation expectations slipped to 1.5% in August, from 2.3% the previous month.
Meanwhile, demand for the greenback remained under pressure after data last week showed that U.S. the economy added slightly fewer jobs than expected in August.
The soft data raised some doubts over whether the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
The Aussie was sharply lower against the New Zealand dollar with AUD/NZD plummeting 1.59%, to hit 1.1360.
Also Thursday, the Reserve Bank of New Zealand held its benchmark interest rate at a record-low 2.50% but added that increases “will likely be required next year” as the economy strengthens and inflation picks up.
Later in the day, the U.S. was to release data on jobless claims.