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Sunday 8 November 2015

AUSSIE LOWER AFTER DOWNBEAT NAB SURVEY

The Aussie was slightly lower on Thursday after a downbeat business confidence survey.

AUD/USD traded at 0.7208, down 0.03%.

In Australia, the NAB quarterly business confidence survey dropped to flat from plus-4 in the previous quarter, while conditions increased to plus-11 from plus-5.

USD/JPY was last at 119.74, down 0.15%.

Overnight, the dollar moved slightly higher against the other major currencies, as the previous session's U.S. housing sector data continued to lend support. Trading was expected to remain subdued with no major U.S. data out thoughout the day.

The greenback strengthened mildly after the U.S. Commerce Department reported on Tuesday that housing starts climbed 6.5% to 1.206 million units last month from August’s total of 1.132 million units. The report also showed that the number of building permits issued dropped by 5.0% to 1.103 million units from August’s total of 1.170 million.

Market players were awaiting the weekly report on U.S. jobless claims due later in the day after a batch of mixed U.S. economic reports spurred fresh uncertainty over the timing of a U.S. rate increase.

Meanwhile, sentiment on the single currency slightly weakened ahead of the European Central Bank's monthly monetary policy decision, expected later Thursday.

The ECB was expected to keep its monetary policy unchanged but could flag plans to enlarge its stimulus program.

Credit: mql5.com

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