(Australian Associated Press)
The Australian dollar remains steady against the greenback as investors wait for the latest jobs numbers to be released on Thursday.
At 1700 AEDT on Wednesday, the local unit was trading at 75.45 US cents, up from 75.40 US cents on Tuesday.
“It has been flat over the last couple of days,” Moody’s Analytics Australia economist Emily Dabbs said.
“We’ll probably expect some movement tomorrow with the labour force data out. That might give a better idea of how much spare capacity there is and what that means for RBA decisions in 2017.”
The unemployment rate is expected to have remained steady at 5.6 per cent in October, with the median forecast among economists for a 20,000 rise in the number of people with a job.
The Australian dollar began the week at 75.47 US cents, and Ms Dabbs said there had been little economic data to provide much direction for trade.
“But we’ll probably see it come under a bit of downward pressure especially now that markets are pricing in a December rate hike in the US,” she said.
CURRENCY SNAPSHOT AT 1700 AEDT ON WEDNESDAY
One Australian dollar buys:
* 75.45 US cents, from 75.40 cents on Tuesday
* 82.35 Japanese yen, from 81.64 yen
* 70.21 euro cents, from 70.18 euro cents
* 60.5 British pence, from 60.48 British pence
* 106.36 New Zealand cents, from 106.26 NZ cents
The spot price of gold in Sydney at 1700 AEDT was $US1,230.50 per fine ounce, up $US6.45 from $US1,224.05 on Tuesday.
* CGS 5.25 per cent March 2019 1.795pct, down from 1.807pct on Tuesday
* CGS 4.25pct April 2026, 2.585pct, down from 2.608pct
Sydney Futures Exchange prices:
* December 2016 10-year bond futures contract at 97.39 (indicating a yield of 2.61 per cent), up from 97.375 (2.625 per cent) on Tuesday.
* December 2016 3-year bond futures contract at 98.19 (1.81 per cent), up from 98.17 (1.83 per cent)
(*Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)