26th February 2014
The Australian dollar has inched lower against its US counterpart in forex trading markets today (February 26th), after the release of weak construction data in the country.
Official figures showed the volume of construction works completed in Australia declined by 0.7 per cent in the fourth quarter of 2013, defying expectations for an advance of one per cent.
Activity over the course of the three months to the end of September was upwardly revised to show a three per cent gain, originally reported as a rise of 2.7 per cent.
However, the Aussie broadly held its ground against the greenback, with the US currency remaining under pressure after a report showed consumer confidence in the country dropped by more than anticipated this month.
This led to further concerns regarding recovery in the American economy, ahead of the publication of official Q4 gross domestic product growth figures on February 28th.
As of 10:20 GMT, the Aussie is trading 0.1 per cent lower at $0.9009.
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