Investing.com - The Australian dollar rose marginally Thursday ahead of October trade data, recovering from overnight weakness on disappointing third quarter GDP data a day earlier.
AUD/USD traded at 0.9034, up 0.04%, ahead of the data due at 1130 local time (0030 GMT) and forecast to show a deficit of AUD375 million.
In Japan, JPY/USD traded at 102.34, down 0.02%, in thin trade ahead of November jobs data in the United States on Friday.
Overnight, the dollar firmed against most major currencies after payroll processing firm ADP reported earlier that non-farm private employment rose by a seasonally adjusted 215,000 in November, blowing past expectations for an increase of 173,000.
November's figure was revised up to a gain of 184,000 from a previously reported increase of 130,000.
The news bolstered the dollar earlier by keeping expectations strong for the Federal Reserve to announce plans to taper its USD85 billion in monthly bond purchases in early 2014.
Fed bond purchases aim to boost economic recovery by driving down long-term interest rates, weakening the dollar in the process, though talk of their dismantling often strengthens the greenback.
The Bureau of Labor Statistics will release the official November jobs report on Friday, and uncertainty sparked a round of profit taking in afternoon trading that took back the greenback's earlier gains.
Hit-or-miss economic indicators elsewhere allowed for choppy trading as well.
The Institute of Supply Management said its non-manufacturing purchasing managers' index declined to 53.9 in November from a 55.4 in October.
Analysts were expecting the index to ease down to 55.0 last month.
In addition, the U.S. Census Bureau said new home sales rose by 25.4% to a seasonally adjusted 444,000 units in November, beating expectations for an increase to 428,000 and hitting a four-month high
A separate report showed that the U.S. trade deficit narrowed to a seasonally adjusted USD40.6 billion in October from a USD43.0 billion deficit in September, whose figure was revised from a previously reported deficit of USD41.8 billion.
Analysts had expected the U.S. trade deficit to narrow to USD40 billion in October.
Meanwhile in Europe, retail sales fell 0.2% in October compared to expectations for a 0.3% rise, according to official data.
The report came after London-based Markit Economics said that the bloc's final service-sector PMI ticked up to 51.2 in November from a preliminary reading of 50.9 though still below October's 51.6 reading.
The Bank of Canada earlier held its benchmark interest rate at 1%, in line with expectations.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.63, up 0.01%.
On Thursday, the U.S. is to publish a revised estimate of third-quarter gross domestic product, while the Labor Department is to release its weekly report on initial jobless claims. The U.S. is also to publish data on factory orders.
AUD/USD traded at 0.9034, up 0.04%, ahead of the data due at 1130 local time (0030 GMT) and forecast to show a deficit of AUD375 million.
In Japan, JPY/USD traded at 102.34, down 0.02%, in thin trade ahead of November jobs data in the United States on Friday.
Overnight, the dollar firmed against most major currencies after payroll processing firm ADP reported earlier that non-farm private employment rose by a seasonally adjusted 215,000 in November, blowing past expectations for an increase of 173,000.
November's figure was revised up to a gain of 184,000 from a previously reported increase of 130,000.
The news bolstered the dollar earlier by keeping expectations strong for the Federal Reserve to announce plans to taper its USD85 billion in monthly bond purchases in early 2014.
Fed bond purchases aim to boost economic recovery by driving down long-term interest rates, weakening the dollar in the process, though talk of their dismantling often strengthens the greenback.
The Bureau of Labor Statistics will release the official November jobs report on Friday, and uncertainty sparked a round of profit taking in afternoon trading that took back the greenback's earlier gains.
Hit-or-miss economic indicators elsewhere allowed for choppy trading as well.
The Institute of Supply Management said its non-manufacturing purchasing managers' index declined to 53.9 in November from a 55.4 in October.
Analysts were expecting the index to ease down to 55.0 last month.
In addition, the U.S. Census Bureau said new home sales rose by 25.4% to a seasonally adjusted 444,000 units in November, beating expectations for an increase to 428,000 and hitting a four-month high
A separate report showed that the U.S. trade deficit narrowed to a seasonally adjusted USD40.6 billion in October from a USD43.0 billion deficit in September, whose figure was revised from a previously reported deficit of USD41.8 billion.
Analysts had expected the U.S. trade deficit to narrow to USD40 billion in October.
Meanwhile in Europe, retail sales fell 0.2% in October compared to expectations for a 0.3% rise, according to official data.
The report came after London-based Markit Economics said that the bloc's final service-sector PMI ticked up to 51.2 in November from a preliminary reading of 50.9 though still below October's 51.6 reading.
The Bank of Canada earlier held its benchmark interest rate at 1%, in line with expectations.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.63, up 0.01%.
On Thursday, the U.S. is to publish a revised estimate of third-quarter gross domestic product, while the Labor Department is to release its weekly report on initial jobless claims. The U.S. is also to publish data on factory orders.