The Australian dollar has consolidated recent losses ahead of the release of the official August job figures.
At 0700 AEST on Thursday, the local unit was trading at 74.70 US cents, down from 74.88 cents on Wednesday.
Imre Speizer, Westpac senior market strategist, said the global bond rally had retraced overnight, weakening the greenback against most major currencies, except the Aussie which traded in a narrow range.
“The 75 US cent area is an obstacle to any further gains ahead of the (Australia’s) employment report,” he said. “Then it will be about the direction of the data surprise.”
Speizer said the August job figures, expected to show the unemployment rate flat at 5.7 per cent, would be the main risk event on Thursday.
AAP
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
