The Australian dollar is firmer following weaker-than-expected US private sector jobs data.
At 0700 AEDT on Thursday, the local unit was trading at 89.10 US cents, up from 88.93 US cents on Wednesday.
During overnight trading, the Australian dollar slipped when data showed the US services sector picked up in January, BK Asset Management managing director Kathy Lien said.
However, separate data showed the US economy had fewer than expected private-sector jobs in January.
Ms Lien said this helped the local currency hold onto earlier gains.
“It has been a relatively slow north American session so we haven’t seen any big moves,” she said.
“Enthusiasm for the Aussie still remains.”
The US economy added 175,000 private-sector jobs in January, fewer than in December, payrolls firm ADP’s National Employment Report shows.
The January number marked the second consecutive month of slowing jobs growth after November’s surge to 289,000, the peak for 2013.
Meanwhile, economic activity in the vast US services sector picked up in January, with companies reporting better business conditions, according to the Institute for Supply Management’s purchasing managers index.
AAP
