Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Wednesday, despite upbeat consumer sentiment data out of Australia, as growing expectations for a near-term end to the Federal Reserve's stimulus program supported the greenback.
AUD/USD hit 0.9082 during late Asian trade, the session low; the pair subsequently consolidated at 0.9097, falling 0.16%.
The pair was likely to find support at 0.8974, the low of August 8 and resistance at 0.9221, the high of August 12.
In a report, the Westpac Banking Corporation said its consumer sentiment index rose 3.5% this month, following a 0.1% slip in July.
But demand for the greenback remained supported after U.S. retail sales data on Tuesday reinforced the view that the economic recovery is strong enough for the Fed to begin phasing out its asset purchase program later this year.
The Commerce Department said that retail sales rose for the fourth successive month in July, rising 0.2%, while core retail sales, which exclude automobile sales, rose at the fastest pace in seven months, climbing 0.5%.
The Aussie was higher against the New Zealand dollar, with AUD/NZD declining 0.49%, to hit 1.1392.
Also Wednesday, official data showed that retail sales in New Zealand rose 1.7% in the second quarter, beating expectations for a 1.4% increase. The previous quarter's figure was revised up to a 0.9% gain from an previously estimated 0.5% rise.
Core retail sales, which exclude automobiles and gas stations, rose 2.3% in the last quarter, more than the expected 1.3% increase, after a 1% gain in the three months to March.
Later in the day, the U.S. was to release data on produce price inflation.
AUD/USD hit 0.9082 during late Asian trade, the session low; the pair subsequently consolidated at 0.9097, falling 0.16%.
The pair was likely to find support at 0.8974, the low of August 8 and resistance at 0.9221, the high of August 12.
In a report, the Westpac Banking Corporation said its consumer sentiment index rose 3.5% this month, following a 0.1% slip in July.
But demand for the greenback remained supported after U.S. retail sales data on Tuesday reinforced the view that the economic recovery is strong enough for the Fed to begin phasing out its asset purchase program later this year.
The Commerce Department said that retail sales rose for the fourth successive month in July, rising 0.2%, while core retail sales, which exclude automobile sales, rose at the fastest pace in seven months, climbing 0.5%.
The Aussie was higher against the New Zealand dollar, with AUD/NZD declining 0.49%, to hit 1.1392.
Also Wednesday, official data showed that retail sales in New Zealand rose 1.7% in the second quarter, beating expectations for a 1.4% increase. The previous quarter's figure was revised up to a 0.9% gain from an previously estimated 0.5% rise.
Core retail sales, which exclude automobiles and gas stations, rose 2.3% in the last quarter, more than the expected 1.3% increase, after a 1% gain in the three months to March.
Later in the day, the U.S. was to release data on produce price inflation.