AUD/USD rebounds off 10-week low

The Australian dollar rose during the Asian session to see its fifth session retreat in six sessions from its lowest since January 4th, to prepare for the first weekly gain in three weeks against the US dollar, amid tight economic data by the Australian economy in the last session of the week and on the eve of developments And economic data expected Friday by the US economy, the largest economy in the world.

At 02:41 GMT, AUD/USD rose 0.30% to 0.7085 compared with the opening at 0.7064, after a high of 0.7085 and a low of 0.7062.

Investors are currently waiting for the US economy to release the New York Manufacturing Index, which may extend to 10.1 vs. 8.8 in February. Before the world's largest industrial producer release the reading of the Industrial Production Index (IPI), which might show an increase to 0.4% versus -0.6% of decline in January, While the Energy Use Intensity (EUI) reading showed accelerated growth to 78.5% versus 78.2%.

Leading to the first reading of the University of Michigan Index of Consumer Sentiment, which may reflect a widening to 95.5 versus 93.8 in February, with the release of consumer Inflation Expectation (MICH) for one year to come and five years ahead, in conjunction with the release of a statistical Job Openings and Labor Turnover (JOLTS) that may reflect a decrease to 7.27 million versus 7.34 million last December.