Australian Dollar Advances Amid Risk Appetite

RTTNews | 878 days ago
Stocktwits
Australian Dollar Advances Amid Risk Appetite

(RTTNews) - The Australian dollar was higher against its major counterparts in the European session on Thursday amid risk appetite, as strong U.S. retail sales data signalled resilience in the economy.

The data fuelled hopes that the Fed could still engineer a "soft landing."

The U.K.'s FTSE 100 rose 0.45 percent, France's CAC gained 0.96 percent and Germany's DAX added 0.69 percent.

Downbeat jobs data out of Australia weighed on the currency in the previous session.

The Australian economy lost 11,500 jobs last month, missing expectations for an increase of 20,000 after shedding 14,600 in the previous month.

The unemployment rate rose to 3.7 percent versus 3.5 percent expected.

The aussie was trading at 92.65 against the yen and 1.0993 against the kiwi, from an early low of 91.98 and a 2-day low of 1.0963, respectively. The currency is seen finding resistance around 94.00 against the yen and 1.12 against the kiwi.

The aussie rose to 0.9266 against the loonie and 1.5446 against the euro, off its early multi-week low of 0.9207 and a 9-day low of 1.5561, respectively. Immediate resistance for the currency is found near 0.94 against the loonie and 1.51 against the euro.

The aussie climbed to 0.6936 against the greenback, coming off from an early low of 0.6868. The currency is likely to challenge resistance around the 0.71 level.

Looking ahead, U.S. weekly jobless claims for the week ended February 11, as well as PPI and building permits and housing starts for January will be released in the New York session.

Tags: AUDCAD AUDJPY AUDNZD AUDUSD EURAUD
Stocktwits
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