Investing.com - The Australian dollar was steady against its U.S. counterpart on Thursday, after the release of strong Australian employment data, while speculation over a near-term end to the Federal Reserve's stimulus program persisted.
AUD/USD hit 0.9520 during late Asian trade, the session high; the pair subsequently consolidated at 0.9476, easing 0.06%.
The pair was likely to find support at 0.9394, the low of June 9 and a 20-month low and resistance at 0.9574, the high of June 7.
Official data showed that the number of employed people in Australia rose by 1,100 in May, beating expectations for a 10,000 decline , after a 45,000 increase the previous month.
The report also showed that Australia's unemployment rate ticked down to 5.5% last month, from 5.6% in April. Analysts had expected the unemployment rate to remain unchanged in May.
Meanwhile, investors remained cautious amid ongoing speculation over whether the Fed will begin to unwind its easing program in the coming months.
The Aussie was higher against the New Zealand dollar with AUD/NZD climbing 0.57%, to hit 1.1937.
Also Thursday, the Reserve Bank of New Zealand held its benchmark interest rate at 2.50%, in a widely expected move.
The central bank also cut its growth forecast for the year through March 2014 to 3% from 3.3%, and left its projection for the following year at 2.8%.
Later in the day, the U.S. was to release official data on retail sales and the weekly government report on initial jobless claims.
AUD/USD hit 0.9520 during late Asian trade, the session high; the pair subsequently consolidated at 0.9476, easing 0.06%.
The pair was likely to find support at 0.9394, the low of June 9 and a 20-month low and resistance at 0.9574, the high of June 7.
Official data showed that the number of employed people in Australia rose by 1,100 in May, beating expectations for a 10,000 decline , after a 45,000 increase the previous month.
The report also showed that Australia's unemployment rate ticked down to 5.5% last month, from 5.6% in April. Analysts had expected the unemployment rate to remain unchanged in May.
Meanwhile, investors remained cautious amid ongoing speculation over whether the Fed will begin to unwind its easing program in the coming months.
The Aussie was higher against the New Zealand dollar with AUD/NZD climbing 0.57%, to hit 1.1937.
Also Thursday, the Reserve Bank of New Zealand held its benchmark interest rate at 2.50%, in a widely expected move.
The central bank also cut its growth forecast for the year through March 2014 to 3% from 3.3%, and left its projection for the following year at 2.8%.
Later in the day, the U.S. was to release official data on retail sales and the weekly government report on initial jobless claims.