Investing.com – The Australian dollar was down against its U.S. counterpart on Monday, ahead of the Reserve Bank of Australia's benchmark interest rate announcement due late Monday night.
AUD/USD hit 0.8377 during European afternoon trade, a 2-day low; the pair subsequently consolidated at 0.8395, shedding 0.26%.
The pair was likely to find support at 0.8315, the low of July 1, and resistance at 0.8509, last Friday's high.
The Reserve Bank of Australia was widely expected to leave the benchmark interest rate or overnight cash rate at 4.5% after recent data showed a slowdown in the Australian retail, housing and buisness sectors.
Australian retail sales grew in May at the slowest pace in three months while building approvals fell. Manufacturing growth rose less than expected in June and the services industry also contracted.
Meanwhile, the Aussie was up against the euro, with EUR/AUD shedding 0.06% to hit 1.4921.
Earlier Monday, data showed that Australian job advertisements in newspapers and on the Internet rose in June.
A survey, conducted by ANZ Bank, showed that the number of jobs advertised rose by a seasonally adjusted 2.7% in June, following a 4.3% rise in May.
AUD/USD hit 0.8377 during European afternoon trade, a 2-day low; the pair subsequently consolidated at 0.8395, shedding 0.26%.
The pair was likely to find support at 0.8315, the low of July 1, and resistance at 0.8509, last Friday's high.
The Reserve Bank of Australia was widely expected to leave the benchmark interest rate or overnight cash rate at 4.5% after recent data showed a slowdown in the Australian retail, housing and buisness sectors.
Australian retail sales grew in May at the slowest pace in three months while building approvals fell. Manufacturing growth rose less than expected in June and the services industry also contracted.
Meanwhile, the Aussie was up against the euro, with EUR/AUD shedding 0.06% to hit 1.4921.
Earlier Monday, data showed that Australian job advertisements in newspapers and on the Internet rose in June.
A survey, conducted by ANZ Bank, showed that the number of jobs advertised rose by a seasonally adjusted 2.7% in June, following a 4.3% rise in May.