Forex - Aussie slightly weaker as investors await trade data, note Fed

Aussie slightly weaker

Investing.com – The Aussie ticked lower in early Asia on Thursday with trade data ahead and as markets digested the latest Fed rate review and cautiously eyed the U.S. presidential election.

traded at 0.7656, down 0.05%, while changed hands at 103.37, up 0.06%.

The said the case for a rate hike by the end of the year remains in place as it held rates steady as expected on on Wednesday, adding few tweaks to its statement that still short of sending a very strong signal.

The policymaking Federal Open Market Committee voted 8 to 2 to continue targeting the 0.25% to 0.50% range for the fed funds rate, where it has been since liftoff last December.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 97.39.

In Australia, the for October rose into expansion at 50.5 from 48.9 the previous month.

Ahead, the September is expected to come in at a deficit of A$1.7 billion. As well, the reading on China for October is due with a reading of 52.5 expected.

Overnight, the dollar remained broadly lower against the other majors currencies on Wednesday after the FEd decision and an uncertainty over the outcome of the U.S. presidential election continued to weigh.

U.S. payroll processing firm ADP reported on Wednesday that non-farm private employment rose 147,000 last month, below forecasts for an increase of 165,000.
The economy created 202,000 jobs in September, whose figure was upwardly revised from a previously reported increase of 154,000.

Meanwhile, investors remained cautious after the FBI said last Friday that it would review more emails related to Hillary Clinton’s private email use while she was secretary of state.

The news sparked fresh uncertainty over Mrs. Clinton’s election prospects ahead of the November 8 vote, amid fears over the implications of a victory for Republican candidate Donald Trump.

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Forex - Aussie slightly weaker as investors await trade data, note Fed