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Aussie Moves Higher, Kiwi Drops After Mixed Data

2017-11-30 16:49:12Market Analysis
Aussie Moves Higher, Kiwi Drops After Mixed Data

The Australian dollar moved higher against its U.S. counterpart on Thursday, after the release of postive Australian housing sector data, while the New Zealand dollar dropped following a downbeat business confidence report.

AUD/USD added 0.18% to 0.7584, off the previous session's one-week low of 0.7552.

Earlier Thursday, the Australian Bureau of Statistics said that building approvals rose 0.9% in October, confounding expectations for a 1.8% decline.

A separate report showed that Australia's private capital expenditure increased by 1.0% in the third quarter, in line with expectations.

NZD/USD slid 0.46% to trade at 0.6851, the lowest since November 22.

Data on Thursday also showed that New Zealand's ANZ Business Confidence index dropped to an eight-year low of -39.3 in November from -10.1 the previous month.

Meanwhile, sentiment on the greenback remained vulnerable ahead of a crucial vote on tax reform in the U.S.

The Senate Budget Committee approved President Donald Trump's tax bill on Tuesday

Senate takes step toward passage of tax bill, vote likely this week

By Reuters - Nov 30, 2017

By David Morgan and Susan Cornwell WASHINGTON (Reuters) - The U.S. Senate on Wednesday took a step ...

 and a full Senate vote of the bill could take place as soon as Thursday.

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 93.13 by 02:10 a.m. ET (06:10 GMT)