Dollar lower ahead of key economic data

THE Australian dollar is lower ahead of the release of local retail spending figures and US employment data.

THE Australian dollar is lower ahead of the release of local retail spending figures and US employment data. At 0630 AEST on Friday, the local unit was trading at 70.30 US cents, down from 70.64 cents on Thursday.

On Friday the Australian Bureau of Statistics will release retail spending figures for August and the market is expecting a 0.4 per cent rise, after a 0.l per cent fall the previous month.

CURRENCY SNAPSHOT AT 0630 AEST ON FRIDAY

One Australian dollar buys:

* 70.30 US cents, from 70.64 cents on Thursday

* 84.31 Japanese yen, from 84.86 yen

* 62.87 euro cents, from 63.39 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Source: IRESS