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Forex - Aussie stronger as construction survey shows expansion territory

Published 04/08/2015, 07:57 PM
Updated 04/08/2015, 07:59 PM
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Investing.com - The Australian dollar gained in Asia on Thursday after a survey showed a key building index moving into expansion.

AUD/USD traded at 0.7686, up 0.05%, while USD/JPY changed hands at 120.10, down 0.03%.

Australia's AI/HIA construction index for March rose 6.2 points to 50.1, returning to expansion and new orders rising sharply - which signals activity may remain elevated that would be noted by the central bank.

"While new orders for residential construction look positive for the near term the time is now ripe for higher levels of investment in commercial construction and particularly in infrastructure," said AI Group head of influence and policy Peter Burn.

Overnight, the dollar trimmed losses against a basket of other major currencies on Wednesday, but was still under pressure as sentiment on the greenback remained fragile ahead of the minutes of the Federal Reserve's latest policy meeting.

The Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February’s gain and the smallest increase since December 2013.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.05% to 98.31.

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