Investing.com - The Australian dollar edged higher against its U.S. counterpart on Thursday, but remained within close range of a three-month low after data showed that Australia's trade deficit widened more than expected in October.
AUD/USD hit 0.9057 during late Asian trade, the session high; the pair subsequently consolidated at 0.9055, gaining 0.28%.
The pair was likely to find support at 0.8937, the low of September 2 and resistance at 0.9138, Wednesday's high.
Official data earlier showed that Australia's trade deficit widened to AUD0.53 billion in October, from AUD0.27 billion the previous month. Analysts had expected the trade deficit to widen to AUD0.38 billion.
The report came a day after data showed that Australia's gross domestic product rose 0.6% in the third quarter, less than the expected 0.8% expansion, after an upwardly revised 0.7% rise in the three months to June.
Investors were also cautious ahead of the release of a key U.S. jobs report on Friday, after a string of positive data over the week added to expectations the Federal Reserve will soon begin tapering its montly asset purchases.
The Aussie was little changed against the euro, with EUR/AUD easing 0.05% to 1.5046.
Later in the day, the U.S. was to publish a revised estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims and data on factory orders.
AUD/USD hit 0.9057 during late Asian trade, the session high; the pair subsequently consolidated at 0.9055, gaining 0.28%.
The pair was likely to find support at 0.8937, the low of September 2 and resistance at 0.9138, Wednesday's high.
Official data earlier showed that Australia's trade deficit widened to AUD0.53 billion in October, from AUD0.27 billion the previous month. Analysts had expected the trade deficit to widen to AUD0.38 billion.
The report came a day after data showed that Australia's gross domestic product rose 0.6% in the third quarter, less than the expected 0.8% expansion, after an upwardly revised 0.7% rise in the three months to June.
Investors were also cautious ahead of the release of a key U.S. jobs report on Friday, after a string of positive data over the week added to expectations the Federal Reserve will soon begin tapering its montly asset purchases.
The Aussie was little changed against the euro, with EUR/AUD easing 0.05% to 1.5046.
Later in the day, the U.S. was to publish a revised estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims and data on factory orders.