Aussie climbs versus greenback after labor data

Australian dollar rose in Asian trade versus its US counterpart following earlier upbeat labor data from Australia and ahead of US data later today. 

As of 04:44 GMT, GBP/USD rose 0.30% to 0.7130, with an intraday high at 0.7137, and a low at 0.7105. 

Earlier Australian data showed an index tracking business confidence in the third quarter fell to 3 from 7 in the second quarter, as the unemployment rate fell to mid-2001 lows at 5.0% from 5.3%. 

Now markets await the US Philly Manufacturing Index, expected to decrease to 19.7 from 22.9, while unemployment claims for the week ending October 13 are estimated to have fallen by 4 thousand to 210 thousand. 

Continuing claims for the week ending October 6 are expected to have risen by 6 thousand to 1.668 million, while the CB leading index is estimated with a 0.5% increase, up from 0.4% in August. 

Otherwise, Federal Reserve Governor Randal Quarles is due to speak about the economic outlook at the Economic Club of New York luncheon later today.