PERTH: The Australian dollar traded stronger on Thursday early in Asia ahead of trade and retail sales.
AUD/USD traded at 0.7822, up 0.04%, while USD/JPY changed hands at 119.72, up 0.03%. The US dollar index was quoted at 95.97, down 0.02%.
Australia reports its trade balance for January with a A$950 million deficit seen, while retail sales for the same month are seen up 0.4%.
At 1030 (0130 GMT), Bank of Japan board member Takahide Kiuchi is due to speak to business leaders. Kiuchi is one of the four board members who voted against the Oct. 31 easing.
Overnight, the U.S. dollar rose to its highest level against the euro on Wednesday in more than 11 years, ahead of the European Central Bank’s announcement on Thursday detailing the start of its €60 billion a month quantitative easing program.
The continuing decline comes on the eve of Thursday’s ECB meeting where policymakers are expected to release critical details on a monetary easing program that was passed last month.
Among the topics expected to be discussed at the meeting in Cyprus include: projections for inflation and growth, the length and scope of the program, as well as projections for when interest rates could rise again in Europe.
