The Aussie dollar has pulled back from recent highs as the greenback finally finds its feet following days of losses.
At 0700 AEST on Thursday, the local unit was trading at 76.53 US cents, down from 76.54 cents on Wednesday.
‘The US dollar has found a bit of wind after tumbling away in recent trading sessions,’ Bank of New Zealand currency strategist Jason Wong said.
He said the Aussie dollar was also consolidating after some big gains.
‘It had a huge run, just over 77 US cents was its peak. So, now there’s possibly a bit of profit taking,’ he said.
Mr Wong said a strong number from local employment figures, due out Thursday, could give the Aussie a lift.
Jobs growth is tipped to have picked up pace after stalling for months, but the unemployment rate is unlikely to improve.
Although the Aussie dollar is flat the share market looks set to open higher after better-than-expected trade figures out of China boosted markets worldwide.
At 0645 AEST on Thursday, the share price index was up 37 points at 5,074.
Locally, in economic news on Thursday, the Australian Bureau of Statistics releases labour force data for March.
In equities news, Bendigo and Adelaide Bank is slated to give a strategy update.
In Australia, the market on Wednesday closed higher thanks to a lift in commodity prices and better-than-expected Chinese trade figures.
The benchmark S&P/ASX200 index gained 79.1 points, or 1.59 per cent, to 5,054.7 points.
The broader All Ordinaries index added 73.5 points, or 1.45 per cent, to 5,127.2 points.
At 7am on Thursday, 14 April one Aussie dollar was buying:
76.53 US cents, from 76.54 cents on Wednesday*
83.69 Japanese yen, from 83.30 yen
67.88 euro cents, from 67.38 euro cents
110.60 New Zealand cents, from 110.82 NZ cents
53.87 British pence, from 53.75 pence
*Currency closes taken at 1700 AEST previous local session
AAP
