On Friday the Australian dollar edged up marginally in a slim data day with the focus ahead on nonfarm payroll data in the U.S.
AUD/USD traded at 0.7784, up 0.02%, after AI/HIA said its Februrary construction index fell 2 points to 43.9 with apartments the only sector in expansion. The data however pointed to high costs in the sector.
USD/JPY traded at 120.08, down 0.05%, with investors mulling comments from a Bank of Japan about the sustainability of an aggressive easing program.
Despite the release of downbeat U.S. jobless claims and factory orders data, the greenback rose against a basket of other major currencies overnight on Thursday, as markets turned their attention to Friday's report on U.S. nonfarm payrolls.
The U.S. Department of Labor said in a report the number of individuals filing for initial jobless benefits in the week ending February 28 increased by 7,000 to 320,000 from the previous week’s total of 313,000, while economists had expected initial jobless claims to fall by 18,000 to 295,000 last week.
The U.S. Bureau of Labor Statistics said non-farm business sector labor productivity decreased by 2.2% in the final three months of 2014, better than expectations for a 2.3% decline and compared to a preliminary estimate of a 1.8% decline.
U.S. non-farm productivity rose by 3.7% in the third quarter.
U.S. factory orders slipped 0.2% in January, compared to expectations for a 0.2% rise, data showed. December's figure was revised to a 3.5% decline from a previously estimated 3.4% drop.
EUR/USD
rose 0.03% in Asia to 1.1031 after the European Central Bank said
Thursday it was maintaining its benchmark interest rate at a record-low
0.05%, in line with market expectations.
The central bank also held its marginal lending at 0.30% and left its deposit facility rate unchanged at -0.20%. Mario Draghi, ECB president, was to comment on the decision at a press conference later in the day. Draghi was expected to shed more light on how the bank will implement its €1.1 trillion quantitative easing program, which is due to start this month.
