Investing.com - The Australian dollar was lower against its U.S. counterpart on Thursday, but the Aussie remained supported by hopes fo a deal to avoid a fiscal crisis in the U.S.
AUD/USD hit 1.0452 during European morning trade, the daily low; the pair subsequently consolidated at 1.0455, falling 0.19%.
The pair was likely to find support at 1.0410, the low of September 18 and resistance at 1.0518, the high of August 22.
U.S. House Speaker John Boehner, the top Republican in Congress, on Wednesday voiced optimism that Republicans could broker a deal with the White House to avert a fiscal crisis, while President Barack Obama said he hoped to reach an agreement with Congress before Christmas.
Investors fear the planned tax increases and spending cuts, due to start on January 1 and totalling about USD600 billion, could push the world's biggest economy into recession and weigh on the global economic outlook.
In Australia, official data earlier showed that private capital expenditure rose by 2.8% in the third quarter, more than the expected 2% rise, following a 3.4% increase in the previous quarter.
Separately, the Housing Industry Association said that new home sales in Australia rose by 3.4% in October, after a 3.7% drop the previous month.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.13%, to hit 1.2382.
Later in the day, the U.S. was to release preliminary data on third quarter growth as well as the weekly government report on jobless claims.
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Forex - AUD/USD lower, U.S. fiscal hopes support
Published 11/29/2012, 02:50 AM
Updated 11/29/2012, 02:52 AM
Forex - AUD/USD lower, U.S. fiscal hopes support
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