Thursday, June 2, 2016

Forex - Aussie slides lower after mixed data, kiwi holds steady

Aussie moves lower, kiwi little changed ahead of U.S. jobs dataAussie moves lower, kiwi little changed ahead of U.S. jobs data

Investing.com - The Australian dollar slid lower against its U.S. counterpart on Thursday, after the release of mixed data from Australia, while the New Zealand dollar held steady as investors eyed the release of U.S. employment data later in the day.

slid 0.33% to 0.7236.

The Australian Bureau of Statistics reported on Thursday that rose by 0.2% in April, disappointing expectations for a 0.3% gain, after an increase of 0.4% the previous month.

A separate report showed that Australia's narrowed to A$1.58 billion in April from A$1.97 billion in March, whose figure was revised from a previously estimated deficit of A$2.16 billion.

Analysts had expected the trade deficit to widen to A$2.00 billion in April.

was little changed at 0.6812.

Investors were eyeing the release of the ADP report on nonfarm employment due later Thursday for further indications on the strength of the job market and possible hints on the timing of future U.S. rate hikes.

Expectations for a near-term rate hike mounted after it could be appropriate to raise rates in the coming months if the economy and the labor market continue to pick up as expected.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.10% at 95.33, the lowest since May 27.

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