Investing.com - The Australian dollar was lower against its U.S. counterpart on Monday, as market sentiment remained under pressure after Standard and Poor’s downgraded nine euro zone countries on Friday, including France.
AUD/USD hit 1.0254 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0293, shedding 0.32%.
The pair was likely to find support at 1.0231, last Friday’s low and resistance at 1.0351, the high of January 10.
S&P cut ratings on Italy, Spain, Cyprus and Portugal by two notches and downgraded Malta, Slovakia and Slovenia by one level. Germany kept its triple-A rating.
The ratings agency also said it would decide shortly whether to do the same for the euro zone’s bailout fund, the European Financial Stability Facility.
European Central Bank policymaker Ewald Nowotny said on Sunday the central bank would do all it could to calm the situation after the downgrade.
In Australia, official data showed that home loans rose more-than-expected in November, climbing 1.4% after a 0.8% rise the previous month.
Analysts had expected home loans to rise 1% in November.
A separate report showed that job advertisements in Australia declined 0.9% in December, after a 0.1% rise the previous month.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.18%, to hit 1.2200.
Markets in the U.S. remained closed for Martin Luther King Day.
AUD/USD hit 1.0254 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0293, shedding 0.32%.
The pair was likely to find support at 1.0231, last Friday’s low and resistance at 1.0351, the high of January 10.
S&P cut ratings on Italy, Spain, Cyprus and Portugal by two notches and downgraded Malta, Slovakia and Slovenia by one level. Germany kept its triple-A rating.
The ratings agency also said it would decide shortly whether to do the same for the euro zone’s bailout fund, the European Financial Stability Facility.
European Central Bank policymaker Ewald Nowotny said on Sunday the central bank would do all it could to calm the situation after the downgrade.
In Australia, official data showed that home loans rose more-than-expected in November, climbing 1.4% after a 0.8% rise the previous month.
Analysts had expected home loans to rise 1% in November.
A separate report showed that job advertisements in Australia declined 0.9% in December, after a 0.1% rise the previous month.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.18%, to hit 1.2200.
Markets in the U.S. remained closed for Martin Luther King Day.