By FX Empire.com
The AUD/USD pair dropped for the third consecutive day after the greenback soared to its highest level in five weeks against the euro, where risk aversion returned to control the financial market.
The Australian dollar lost momentum against most of its major counterparts, as risk aversion pushed investors to abandon higher yielding currencies such as the Aussie. Nevertheless, we started to see signs of support into the rest of the day as the news of the ECB buying bonds eased some of the pressure off the market.
On Thursday the U.S. data will start at 13:30 GMT with the housing starts for October which is expected to drop to 610 thousand from 658 thousand and Building Permits on the other hand to rise to 600 thousand from 594 thousand.
At the same time we have the weekly jobless claims for the week ending November 11 after last week they unexpectedly declined to 390 thousand.
The data will end with the Philadelphia Fed Index for November at 15:00 GMT which is expected to improve to 10.0 from 8.7.
Originally posted here
