The Australian dollar is flat against the greenback, which lost ground as oil prices continued to rally on the back of OPEC’s agreement to cut oil production.
At 0700 AEDT on Friday, the local unit was trading at 74.13 US cents, compared to 74.17 cents on Thursday.
The Aussie is unchanged against the Japanese yen, but is down against the euro.
Westpac senior market strategist Imre Speizer said the Aussie has been trading between 73.10 US cents and 75.00 US cents during the past two weeks.
Any surprises from Australian retail sales and US jobs report later Friday will dictate “which bound it attracts” during Friday’s session, he said.
Oil prices have jumped about 18 per cent since OPEC on Wednesday agreed to cut production by 1.2 million barrels a day to 32.5 million barrels a day for six months, aimed at ending the global oversupply of oil and lift prices, Speizer said in a research note.
AAP
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