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Australian Dollar Declines Against Majors

12/26/2013 1:59 AM ET

The Australian dollar weakened against other major currencies on Thursday's Asian deals as traders await the U.S. data on weekly jobless claims due later in the day.

The data is forecast to show a fall in weekly jobless claims to 347,000 in the week ended December 21, compared to 379,000 a week earlier.

With the U.S. Federal Reserve commencing the tapering of asset purchase program in January, data adding to signs of healthy labour market could strengthen the pace of winding down these measures, probably by next year.

The aussie dropped to 93.02 against the yen, retreating from an early new 2-week high of 93.43. Further weakness could lead the aussie to find support at the 92.00 area.

The aussie depreciated to 1.0871 against the NZ dollar, its weakest since December 23. The next possible support for the aussie-kiwi pair is seen at the 1.075 zone.

Pulling away from a previous high of 1.5324 against the euro, the aussie dropped to a 6-day low of 1.5406. If the aussie extends weakness, it may test support around the 1.55 mark.

The aussie declined to a 6-day low of 0.9449 against the loonie, off an early 3-day high of 0.9497. The aussie is likely to challenge support around the 0.935 region.

The aussie fell to a 6-day low of 0.8880 against the greenback, following a 2-high of 0.8929 hit at 5:40 pm ET. On the downside, 0.875 is seen as support for the aussie.

by RTT Staff Writer

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