Investing.com – The Australian dollar fell back below parity with its U.S. counterpart on Thursday after a string of better-than-expected U.S. data bolstered hopes that the U.S. economic recovery was broadening.
AUD/USD hit 0.9946 during late Asian trade, the pair’s lowest since December 21; the pair subsequently consolidated at 0.9982, shedding 0.13%.
The pair was likely to find support at 0.9861, the low of December 20 and resistance at 1.0075, Wednesday’s high.
On Wednesday, U.S. data showed that a record 297,000 private-sector jobs were created in the in December, much stronger than the 100,000 consensus forecast.
A separate report showed that the U.S. service sector expanded in December at the fastest pace since May 2006 but said that the employment component weakened slightly.
Earlier Thursday, official data showed that Australian home-building approvals fell in November for the third time in four months, dropping 4.2%, more than the 3.6% decline analysts had expected. Building approvals fell 9.9% from a year earlier.
Meanwhile, the Aussie was slightly higher against the euro, with EUR/AUD slipping 0.09% to hit 1.314.
Later in the day, the U.S. was to publish official data on initial jobless claims.
AUD/USD hit 0.9946 during late Asian trade, the pair’s lowest since December 21; the pair subsequently consolidated at 0.9982, shedding 0.13%.
The pair was likely to find support at 0.9861, the low of December 20 and resistance at 1.0075, Wednesday’s high.
On Wednesday, U.S. data showed that a record 297,000 private-sector jobs were created in the in December, much stronger than the 100,000 consensus forecast.
A separate report showed that the U.S. service sector expanded in December at the fastest pace since May 2006 but said that the employment component weakened slightly.
Earlier Thursday, official data showed that Australian home-building approvals fell in November for the third time in four months, dropping 4.2%, more than the 3.6% decline analysts had expected. Building approvals fell 9.9% from a year earlier.
Meanwhile, the Aussie was slightly higher against the euro, with EUR/AUD slipping 0.09% to hit 1.314.
Later in the day, the U.S. was to publish official data on initial jobless claims.