Investing.com - The Australian dollar is trading lower against its U.S. counterpart during Friday’s Asian session as traders look to yen-related pairs for action in this week’s final trading session.
In Asian trading Friday, AUD/USD is lower by 0.13% at 1.0421. The pair was likely to find support at 1.0397, the low of March 28 and resistance at 1.0490, the notable previous high.
The Aussie has been in focus over the past couple of days amid a spate of economic data that reaffirms the notion that the world’s 12th-largest economy is performing well.
Official data released earlier this week showed that building approvals in Australia rose 3.1% in February, beating expectations for a 2.4% increase, after a 2% decline the previous month.
A separate report showed that Australian retail sales advanced 1.3% in February, more than the expected 0.3% rise, following a 1.2% increase in January.
On Wednesday official data showed that Australia's trade deficit narrowed more-than-expected in February, hitting AUD0.18 billion from a deficit of AUD1.22 billion the previous month. Analysts had expected the trade deficit to narrow to AUD1 billion in February.
A separate report showed that new home sales in Australia fell 5.3% in February, after a 4.2% increase the previous month. Earlier in the week, the Reserve Bank of Australia opted to leave the country’s overnight cash rate unchanged at 3%.
After new Bank of Japan Governor Haruhiko Kuroda delivered new monetary stimulus measures to aimed at boosting inflation in Japan, AUD/JPY soared 0.36% to 100.90 and earlier traded as high as 101.07. Both AUD/JPY and NZD/JPY are trading at four-and-a-half year highs.
AUD/NZD is up 0.10% at 1.2402 while EUR/AUD is higher by 0.13% at 1.2413.
In Asian trading Friday, AUD/USD is lower by 0.13% at 1.0421. The pair was likely to find support at 1.0397, the low of March 28 and resistance at 1.0490, the notable previous high.
The Aussie has been in focus over the past couple of days amid a spate of economic data that reaffirms the notion that the world’s 12th-largest economy is performing well.
Official data released earlier this week showed that building approvals in Australia rose 3.1% in February, beating expectations for a 2.4% increase, after a 2% decline the previous month.
A separate report showed that Australian retail sales advanced 1.3% in February, more than the expected 0.3% rise, following a 1.2% increase in January.
On Wednesday official data showed that Australia's trade deficit narrowed more-than-expected in February, hitting AUD0.18 billion from a deficit of AUD1.22 billion the previous month. Analysts had expected the trade deficit to narrow to AUD1 billion in February.
A separate report showed that new home sales in Australia fell 5.3% in February, after a 4.2% increase the previous month. Earlier in the week, the Reserve Bank of Australia opted to leave the country’s overnight cash rate unchanged at 3%.
After new Bank of Japan Governor Haruhiko Kuroda delivered new monetary stimulus measures to aimed at boosting inflation in Japan, AUD/JPY soared 0.36% to 100.90 and earlier traded as high as 101.07. Both AUD/JPY and NZD/JPY are trading at four-and-a-half year highs.
AUD/NZD is up 0.10% at 1.2402 while EUR/AUD is higher by 0.13% at 1.2413.