Investing.com - The Australian dollar is trading modestly higher against its U.S. rival in Tuesday’s Asian session following the release of a pair of key Aussie data points.
AUD/USD rose 0.09% to 1.0204 in Asian trading Tuesday. The pair was likely to find support at 1.0101, the low of July 12 and resistance at 1.0206, the March 4 high.
In a report released earlier today, Australian Bureau of Statistics said that Australian retail sales increased 0.9% last month following -0.4% fall in January. The January number was revised down from -0.2%. Analysts had expected Australian retail sales to rise 0.4% in February.
In a separate report, the Bureau of Statistics said that Australia’s current account balance fell to AUD-14.7 billion in the fourth quarter from AUD-15 billion in the third quarter. Analysts expected Australia’s current account balance to decline to AUD-15.3B in the fourth quarter.
Those data points follow three other important announcements delivered on Monday. Yesterday, official data earlier showed that building approvals in Australia fell unexpectedly in January, declining 2.4% after a 1.7% drop the previous month. Analysts had expected building approvals to rise 2.8% in January.
Another Monday report showed that company operating profits in Australia declined 1% in the fourth quarter, in line with expectations, after a 2.7% fall in the previous quarter. Also on Monday, data showed that job advertisements in Australia rose 3% in February, following a 0.6% increase the previous month.
Traders are currently awaiting a monetary policy decision from the Reserve Bank of Australia due out later today, though it is widely expected RBA will leave Australian interest rates unchanged at 3%.
Elsewhere, EUR/AUD fell 0.05% to 1.2771 while AUD/JPY dropped 0.14% to 95.16. AUD/NZD added 0.02% to 1.2321.
AUD/USD rose 0.09% to 1.0204 in Asian trading Tuesday. The pair was likely to find support at 1.0101, the low of July 12 and resistance at 1.0206, the March 4 high.
In a report released earlier today, Australian Bureau of Statistics said that Australian retail sales increased 0.9% last month following -0.4% fall in January. The January number was revised down from -0.2%. Analysts had expected Australian retail sales to rise 0.4% in February.
In a separate report, the Bureau of Statistics said that Australia’s current account balance fell to AUD-14.7 billion in the fourth quarter from AUD-15 billion in the third quarter. Analysts expected Australia’s current account balance to decline to AUD-15.3B in the fourth quarter.
Those data points follow three other important announcements delivered on Monday. Yesterday, official data earlier showed that building approvals in Australia fell unexpectedly in January, declining 2.4% after a 1.7% drop the previous month. Analysts had expected building approvals to rise 2.8% in January.
Another Monday report showed that company operating profits in Australia declined 1% in the fourth quarter, in line with expectations, after a 2.7% fall in the previous quarter. Also on Monday, data showed that job advertisements in Australia rose 3% in February, following a 0.6% increase the previous month.
Traders are currently awaiting a monetary policy decision from the Reserve Bank of Australia due out later today, though it is widely expected RBA will leave Australian interest rates unchanged at 3%.
Elsewhere, EUR/AUD fell 0.05% to 1.2771 while AUD/JPY dropped 0.14% to 95.16. AUD/NZD added 0.02% to 1.2321.