Investing.com - The Australian dollar slid lower against its U.S. counterpart on Thursday, after the release of mixed data from Australia, while the New Zealand dollar held steady as investors eyed the release of U.S. employment data later in the day.
AUD/USD slid 0.33% to 0.7236.
The Australian Bureau of Statistics reported on Thursday that retail sales rose by 0.2% in April, disappointing expectations for a 0.3% gain, after an increase of 0.4% the previous month.
A separate report showed that Australia’s trade deficit narrowed to A$1.58 billion in April from A$1.97 billion in March, whose figure was revised from a previously estimated deficit of A$2.16 billion.
Analysts had expected the trade deficit to widen to A$2.00 billion in April.
NZD/USD was little changed at 0.6812.
Investors were eyeing the release of the ADP report on nonfarm employment due later Thursday for further indications on the strength of the job market and possible hints on the timing of future U.S. rate hikes.
Expectations for a near-term rate hike mounted after U.S. central bank chief Janet Yellen said late last week it could be appropriate to raise rates in the coming months if the economy and the labor market continue to pick up as expected.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.10% at 95.33, the lowest since May 27.