Investing.com - The Australian dollar was lower against its U.S. counterpart on Thursday, after the release of disappointing employment data out of Australia, while speculation that the Federal Reserve could begin tapering its stimulus program soon supported the greenback.
AUD/USD hit 0.9466 during late Asian trade, the pair's lowest since November 5; the pair subsequently consolidated at 0.9481, shedding 0.47%.
The pair was likely to find support at 0.9422, the low of November 1 and resistance at 0.9542, the high of November 6.
Official data earlier showed that the number of employed people in Australia rose by 1,100 in October, confounding expectations for a 10,000 increase, after a downwardly revised 3,300 rise the previous month.
The report also showed that Australia's unemployment rate remained unchanged at 5.7% last month, in line with expectations, after September's rate was revised up from 5.6%.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Fed could start scaling back stimulus as soon as next month.
The Aussie was lower against the euro with EUR/AUD gaining 0.51%, to hit 1.4260.
Later in the day, the U.S. was to publish a preliminary estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims.
AUD/USD hit 0.9466 during late Asian trade, the pair's lowest since November 5; the pair subsequently consolidated at 0.9481, shedding 0.47%.
The pair was likely to find support at 0.9422, the low of November 1 and resistance at 0.9542, the high of November 6.
Official data earlier showed that the number of employed people in Australia rose by 1,100 in October, confounding expectations for a 10,000 increase, after a downwardly revised 3,300 rise the previous month.
The report also showed that Australia's unemployment rate remained unchanged at 5.7% last month, in line with expectations, after September's rate was revised up from 5.6%.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Fed could start scaling back stimulus as soon as next month.
The Aussie was lower against the euro with EUR/AUD gaining 0.51%, to hit 1.4260.
Later in the day, the U.S. was to publish a preliminary estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims.