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Aussie Rises, Kiwi Holds Steady after Strong Australian Data

9/14/2017, 3:24:35 PMTrading Strategies
Aussie Rises, Kiwi Holds Steady after Strong Australian Data

The Australian edged higher against its U.S. counterpart on Thursday, while the New Zealand dollar held steady after the release of upbeat Australian employment data and as investors looked ahead to U.S. inflation figures due later in the day.

AUD/USD added 0.16% to 0.7999.

The Australian Bureau of Statistics reported on Thursday that the number of employed people rose by 54,200 in August, blowing past expectations for a 15,000 gain.

The number of employed people increased by 29,200 in July, whose figure was revised from a previously estimated rise of 27,900.

The report also showed that the unemployment rate remained unchanged at 5.6% last month, in line with market expectations.

NZD/USD held steady at 0.7244.

Meanwhile, sentiment on the greenback remained vulnerable ahead of highly-anticipated data on U.S. inflation due later Thursday.

The data could be a determining factor in the Federal Reserve's future interest rates decision.

Demand for the U.S. dollar was boosted on Wednesday by hopes a tax reform would soon be implemented by the administration, after U.S. President Donald Trump reached out to both Democrats and Republicans this week.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 92.42 by 02:15 a.m. ET (06:15 GMT)