Investing.com - The Australian dollar was lower against its U.S. counterpart on Wednesday, as market sentiment waned ahead of a German bond sale amid sustained concerns over the financial crisis in the euro zone.
AUD/USD hit 1.0323 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0351, shedding 0.25%.
The pair was likely to find support at 1.0280, the low of November 8 and resistance at 1.0438, the high of November 4.
Investors were cautious as Germany was preparing to sell EUR5 billion of 10-year government bonds later in the day.
Markets were also eyeing a key meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on January 9 to advance discussions on tighter fiscal integration in the European Union.
Meanwhile, in the minutes of its December policy setting meeting, the Federal Reserve said it will begin later this month to publish the predictions of its senior officials about their own decisions, hoping to increase its influence over economic activity.
The bank added that “current and prospective economic conditions could well warrant additional policy accommodation, but they believed that any additional actions would be more effective if accompanied by enhanced communication.”
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.17%, to hit 1.2595.
Later in the day, the U.S. was to release data on factory orders.
AUD/USD hit 1.0323 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0351, shedding 0.25%.
The pair was likely to find support at 1.0280, the low of November 8 and resistance at 1.0438, the high of November 4.
Investors were cautious as Germany was preparing to sell EUR5 billion of 10-year government bonds later in the day.
Markets were also eyeing a key meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on January 9 to advance discussions on tighter fiscal integration in the European Union.
Meanwhile, in the minutes of its December policy setting meeting, the Federal Reserve said it will begin later this month to publish the predictions of its senior officials about their own decisions, hoping to increase its influence over economic activity.
The bank added that “current and prospective economic conditions could well warrant additional policy accommodation, but they believed that any additional actions would be more effective if accompanied by enhanced communication.”
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.17%, to hit 1.2595.
Later in the day, the U.S. was to release data on factory orders.