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Aussie dollar flat amid mixed data

Xinhua, June 2, 2016 Adjust font size:

The Australian dollar is flat amid mixed global data.

At 7:00 a.m. local time (AEST) on Thursday, the Australian dollar was trading at 72.57 U.S. cents, unchanged from Wednesday.

By 10:01 a.m. local time (AEST), the Australian dollar had fallen to 72.48 U.S. cents.

Commonwealth Bank of Australia chief currency strategist Richard Grace said the Australian dollar had given back some of the strong Australian March quarter gross domestic product inspired-gains in overnight trade, as commodity prices and declines in European equities challenged growth expectations.

"But the Australian dollar remains very well-supported by the 200 day moving average of 72.56 U.S. cents," Grace said.

Westpac chief market strategist Imre Speizer added sentiment rebounded early in New York.

"Helping equities, oil and interest rates erase earlier losses," Speizer noted.

"The U.S., though, remained weak throughout." Endit