Investing.com - The Australian dollar was steady against its U.S. counterpart on Wednesday, after the release of positive trade balance data out of Australia, as expectations for the Federal Reserve to begin tapering its stimulus program before the year end still supported the greenback.
AUD/USD hit 0.9526 during late Asian trade, the session high; the pair subsequently consolidated at 0.9512, easing up 0.05%.
The pair was likely to find support at 0.9436, the low of November 3 and resistance at 0.9623, the high of October 28.
Official data earlier showed that Australia's trade deficit narrowed more than expected in September, coming in at AUD0.28 billion from a deficit of AUD0.68 billion the previous month. Analysts had expected the trade deficit to narrow to AUD0.45 billion in September.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
The Aussie was lower against the New Zealand dollar with AUD/NZD shedding 0.23%, to hit 1.1347.
Also Wednesday, official data showed that the number of employed people in New Zealand rose 1.2% in the third quarter, beating expectations for a 0.5% uptick, after a 0.4% increase in the three months to June.
The report also showed that New Zealand's unemployment rate fell to 6.2% in the last quarter, from 6.4% in the previous quarter, in line with expectations.
AUD/USD hit 0.9526 during late Asian trade, the session high; the pair subsequently consolidated at 0.9512, easing up 0.05%.
The pair was likely to find support at 0.9436, the low of November 3 and resistance at 0.9623, the high of October 28.
Official data earlier showed that Australia's trade deficit narrowed more than expected in September, coming in at AUD0.28 billion from a deficit of AUD0.68 billion the previous month. Analysts had expected the trade deficit to narrow to AUD0.45 billion in September.
Meanwhile, the greenback remained supported after data on Tuesday showing that service sector activity in the U.S. grew at a faster than expected pace in October supported the view that the Federal Reserve could start scaling back stimulus as soon as next month.
The Aussie was lower against the New Zealand dollar with AUD/NZD shedding 0.23%, to hit 1.1347.
Also Wednesday, official data showed that the number of employed people in New Zealand rose 1.2% in the third quarter, beating expectations for a 0.5% uptick, after a 0.4% increase in the three months to June.
The report also showed that New Zealand's unemployment rate fell to 6.2% in the last quarter, from 6.4% in the previous quarter, in line with expectations.