Investing.com - The Australian dollar edged down against its U.S. counterpart in thin trade on Wednesday, hovering close to almost four-month lows as expectations for the Federal Reserve to soon begin tapering its stimulus program continued to support the greenback.
AUD/USD hit 0.9138 during late Asian trade, the session high; the pair subsequently consolidated at 0.9105, slipping 0.21%.
The pair was likely to find support at 0.9038, the low of September 4 and resistance at 0.9204, Tuesday's high.
The release of mixed U.S. economic data on Tuesday did little to shift expectations that the Federal Reserve will start to taper its stimulus program at one of its next few meetings.
Data showed that U.S. consumer confidence unexpectedly fell to seven month low in November, but a separate report showed that the number of building permits issued in the U.S. rose to the highest level in five years in October.
In Australia, official data earlier showed that construction work done rose 2.7% in the third quarter, beating expectations for a 0.5% rise, after an upwardly revised 0.1% increase in the three months to June.
The Aussie was steady against the New Zealand dollar, with AUD/NZD easing 0.04% to hit 1.1132.
Also Wednesday, official data showed that New Zealand's trade deficit narrowed to NZD168 million last month, from NZD216 million in September. Analysts had expected the trade deficit to expand to NZD345 million in October.
Later in the day, the U.S. was to release reports on durable goods orders and manufacturing activity in the Chicago area, as well as the weekly report on initial jobless claims. The Labor Department report was being released one day early due to the U.S. holiday.
AUD/USD hit 0.9138 during late Asian trade, the session high; the pair subsequently consolidated at 0.9105, slipping 0.21%.
The pair was likely to find support at 0.9038, the low of September 4 and resistance at 0.9204, Tuesday's high.
The release of mixed U.S. economic data on Tuesday did little to shift expectations that the Federal Reserve will start to taper its stimulus program at one of its next few meetings.
Data showed that U.S. consumer confidence unexpectedly fell to seven month low in November, but a separate report showed that the number of building permits issued in the U.S. rose to the highest level in five years in October.
In Australia, official data earlier showed that construction work done rose 2.7% in the third quarter, beating expectations for a 0.5% rise, after an upwardly revised 0.1% increase in the three months to June.
The Aussie was steady against the New Zealand dollar, with AUD/NZD easing 0.04% to hit 1.1132.
Also Wednesday, official data showed that New Zealand's trade deficit narrowed to NZD168 million last month, from NZD216 million in September. Analysts had expected the trade deficit to expand to NZD345 million in October.
Later in the day, the U.S. was to release reports on durable goods orders and manufacturing activity in the Chicago area, as well as the weekly report on initial jobless claims. The Labor Department report was being released one day early due to the U.S. holiday.