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Aussie dollar trades higher at start of week

Xinhua, October 10, 2016 Adjust font size:

The Australian dollar is trading higher ahead of the second U.S. presidential debate and after disappointing U.S. jobs figures.

At Asian open on Monday, the local unit was trading at 75.97 U.S. cents, up from 75.73 U.S. cents on Friday.

Commonwealth Bank of Australia senior currency strategist Elias Haddad in a research note said the U.S. dollar pared back some of its recent gains during Friday's overnight session on a below-forecast U.S. September non-farm payrolls report.

"The U.S. dollar will remain firm this week, influenced by the U.S. August retail sales report on Friday and the minutes from the September FOMC (Federal Open Market Committee) meeting on Thursday," Haddad said.

"The U.S. dollar may also be influenced by the outcome of the second U.S. Presidential debate between Hillary Clinton and Donald Trump."

"The Australian dollar recovered to near 76.00 U.S. cents on Monday morning but will face the headwind of a firm U.S. dollar this week in the absence of important Australian economic data or events," he said.

At 0923 local time (AEDT), the Australian dollar was trading at 76.04 U.S. cents. Enditem