Investing.com – The Australian dollar trimmed losses against its U.S. counterpart on Monday, retreating from a 4-day low ahead of the release of a flurry of U.S. economic data.
AUD/USD retreated from 0.9802, the pair’s lowest since October 12, to hit 0.9882 during European morning trade, shedding 0.24%.
The pair was likely to find support at 0.9766, the low of October 12 and resistance at 1.0000, last Friday’s high and a record high.
Earlier in the day, official data showed that sales of new motor vehicles in Australia rose in September. In a report, the Australian Bureau of Statistics said that sales rose by a seasonally adjusted 0.9%, after rising by a revised 0.2% in August. Year-on-year sales rose 8.6% in September.
The report said that spending on vehicles rose sharply in the second quarter of the year and was one reason the economy grew a rapid 1.2% in the quarter.
Meanwhile, the Aussie was up against the euro, with EUR/AUD shedding 0.18% to hit 1.4085.
Later in the day, the U.S. was to release official data on TIC long term purchases as well as data on the capacity utilization rate and industrial production.
AUD/USD retreated from 0.9802, the pair’s lowest since October 12, to hit 0.9882 during European morning trade, shedding 0.24%.
The pair was likely to find support at 0.9766, the low of October 12 and resistance at 1.0000, last Friday’s high and a record high.
Earlier in the day, official data showed that sales of new motor vehicles in Australia rose in September. In a report, the Australian Bureau of Statistics said that sales rose by a seasonally adjusted 0.9%, after rising by a revised 0.2% in August. Year-on-year sales rose 8.6% in September.
The report said that spending on vehicles rose sharply in the second quarter of the year and was one reason the economy grew a rapid 1.2% in the quarter.
Meanwhile, the Aussie was up against the euro, with EUR/AUD shedding 0.18% to hit 1.4085.
Later in the day, the U.S. was to release official data on TIC long term purchases as well as data on the capacity utilization rate and industrial production.