Investing.com - The Australian dollar fell to a one-month low against its U.S. counterpart on Thursday, following disappointing building approvals data from Australia, while investors eyed a speech by Federal Reserve Chairman Ben Bernanke on Friday.
AUD/USD hit 1.0318 during late Asian trade, the pair’s lowest since July 26; the pair subsequently consolidated at 1.0334, falling 0.14%.
The pair was likely to find support at 1.0271, the low of April 23 and resistance at 1.0397, Wednesday’s high.
Official data showed earlier that building approvals in Australia dropped far more than expected in July, declining 17.3% after a revised 1% fall the previous month.
Analysts had expected building approvals to fall 4.8% in July.
A separate report showed that private capital expenditure in Australia rose by 3.4% in the second quarter, beating expectations for a 2.7% rise and following a 7.7% jump in the previous quarter.
Meanwhile, investors eyed a speech by the Federal Reserve chairman at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed is to implementing more stimulus measures.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.29%, to hit 1.2142.
Later in the day, the U.S. was to produce official data on personal consumption expenditures and personal spending.
AUD/USD hit 1.0318 during late Asian trade, the pair’s lowest since July 26; the pair subsequently consolidated at 1.0334, falling 0.14%.
The pair was likely to find support at 1.0271, the low of April 23 and resistance at 1.0397, Wednesday’s high.
Official data showed earlier that building approvals in Australia dropped far more than expected in July, declining 17.3% after a revised 1% fall the previous month.
Analysts had expected building approvals to fall 4.8% in July.
A separate report showed that private capital expenditure in Australia rose by 3.4% in the second quarter, beating expectations for a 2.7% rise and following a 7.7% jump in the previous quarter.
Meanwhile, investors eyed a speech by the Federal Reserve chairman at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed is to implementing more stimulus measures.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.29%, to hit 1.2142.
Later in the day, the U.S. was to produce official data on personal consumption expenditures and personal spending.