Investing.com - The Australian dollar was lower against its U.S. counterpart on Monday, following the release of disappointing economic data from Australia, while investors eyed the Federal Reserve’s policy meeting later in the week with hopes for fresh easing measures.
AUD/USD hit 1.0348 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0347, falling 0.39%.
The pair was likely to find support at 1.0290, the low of July 26 and resistance at 1.0443, the high of August 24.
Official data showed earlier that home loans in Australia fell unexpectedly in July, dropping 1% after a 1% increase the previous month.
Analysts had expected home loans to rise 0.1% in July.
Sentiment remained supported however, after the European Central Bank announced last week details of its bond purchasing program aimed at stemming the debt crisis in the euro zone, dubbed Outright Monetary Transactions.
Meanwhile, investors were eyeing the outcome of the Fed’s policy meeting on Thursday, after disappointing employment data on Friday fueled speculation that the U.S. central bank may announce a third round of quantitative easing to boost growth.
The Department of Labor said the U.S. economy added 96,000 jobs in August, well below expectations for 125,000, following a downwardly revised 141,000 in July.
Elsewhere, the Aussie was fractionally lower against the euro with EUR/AUD easing up 0.07%, to hit 1.2349.
Trade looked likely to remain subdued on Monday, with no significant economic data releases on the calendar.
AUD/USD hit 1.0348 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0347, falling 0.39%.
The pair was likely to find support at 1.0290, the low of July 26 and resistance at 1.0443, the high of August 24.
Official data showed earlier that home loans in Australia fell unexpectedly in July, dropping 1% after a 1% increase the previous month.
Analysts had expected home loans to rise 0.1% in July.
Sentiment remained supported however, after the European Central Bank announced last week details of its bond purchasing program aimed at stemming the debt crisis in the euro zone, dubbed Outright Monetary Transactions.
Meanwhile, investors were eyeing the outcome of the Fed’s policy meeting on Thursday, after disappointing employment data on Friday fueled speculation that the U.S. central bank may announce a third round of quantitative easing to boost growth.
The Department of Labor said the U.S. economy added 96,000 jobs in August, well below expectations for 125,000, following a downwardly revised 141,000 in July.
Elsewhere, the Aussie was fractionally lower against the euro with EUR/AUD easing up 0.07%, to hit 1.2349.
Trade looked likely to remain subdued on Monday, with no significant economic data releases on the calendar.