Investing.com - The Australian was almost unchanged against its U.S. counterpart on Thursday, as concerns over whether Greece will be able to secure a much needed bailout package overshadowed positive Australian employment data.
AUD/USD hit 1.0652 during late Asian trade, the pair’s lowest since February 14; the pair subsequently consolidated at 1.0688, inching down 0.05%.
The pair was likely to find support at 1.0628, the low of February 14 and resistance at 1.0755, the high of February 2.
The Aussie jumped earlier after official data showed that the Australian economy added 46,300 jobs in January after a 35,600 drop the previous month.
Analysts had expected employment change to rise by 10,500 in January.
The report also showed that the unemployment rate in Australia ticked down to 5.1% from 5.2% in December, confounding expectations for a rise to 5.3%.
But concerns over Greece’s debt woes persisted after officials said on Wednesday the euro zone is examining ways of holding back parts or even all of the country’s bailout program until after elections expected in Greece in April while still ensuring it avoids a default.
Meanwhile, the greenback found support after the minutes of the Federal Reserve’s January policy meeting showed that policymakers were divided about whether to launch fresh easing measures to shore up growth, but were still actively considering such a move.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.29%, to hit 1.2180.
Also Thursday, a report by the Melbourne Institute showed that inflation expectations in Australia declined to 2.5% in January from 2.8% the previous month.
Later in the day, the U.S. was to publish official data on building permits and on housing starts, as well as reports on producer price inflation and unemployment claims. Federal Reserve Chairman Ben Bernanke was also due to speak.
AUD/USD hit 1.0652 during late Asian trade, the pair’s lowest since February 14; the pair subsequently consolidated at 1.0688, inching down 0.05%.
The pair was likely to find support at 1.0628, the low of February 14 and resistance at 1.0755, the high of February 2.
The Aussie jumped earlier after official data showed that the Australian economy added 46,300 jobs in January after a 35,600 drop the previous month.
Analysts had expected employment change to rise by 10,500 in January.
The report also showed that the unemployment rate in Australia ticked down to 5.1% from 5.2% in December, confounding expectations for a rise to 5.3%.
But concerns over Greece’s debt woes persisted after officials said on Wednesday the euro zone is examining ways of holding back parts or even all of the country’s bailout program until after elections expected in Greece in April while still ensuring it avoids a default.
Meanwhile, the greenback found support after the minutes of the Federal Reserve’s January policy meeting showed that policymakers were divided about whether to launch fresh easing measures to shore up growth, but were still actively considering such a move.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.29%, to hit 1.2180.
Also Thursday, a report by the Melbourne Institute showed that inflation expectations in Australia declined to 2.5% in January from 2.8% the previous month.
Later in the day, the U.S. was to publish official data on building permits and on housing starts, as well as reports on producer price inflation and unemployment claims. Federal Reserve Chairman Ben Bernanke was also due to speak.