Aussie rebounds from two-week low versus US dollar

Australian dollar rose in Asian trade off July 3 lows for the second session against US dollar, following earlier data from Australia and ahead of employment data from the US later today. 

As of 03:29 GMT, AUD/USD rose 0.32% to 0.7422 from the opening of 0.7398, with an intraday high at 0.7441, and a low at 0.7395. 

Earlier Australian data showed the unemployment rate steadied at 5.4% as expected in June, while employment change rose 50.9 thousand, compared to a 13.4K increase in May, and beating expectations of 16.7 thousand. 

National Australia Bank (NAB) Quarterly Business Confidence index slowed down in the second quarter to 7 from 8 in the first quarter, while the Reserve Bank of Australia's latest meeting minutes point to a possible rate hike in late 2019. 

US Data

Now markets await US data on unemployment claims, expected to have risen 6 thousand to 220 thousand in the week ending July 14, while continuing claims are estimated with a 14 thousand drop to 1.725 million in the week ending July 7. 

The Philly Fed Manufacturing Index is expected to have increased to 21.5 in July from 19.9 in June, while the CB leading index is estimated with a 0.5% rise, up from 0.2% in May.