Aussie rebounds from seven-week nadir

Australian dollar tilted higher in Asian trade off early November lows for the third straight session against its US counterpart, ahead of US housing data later today. 

As of 03:20 GMT, AUD/USD rose 0.13% to 0.7188, with an intraday high at 0.7200, and a low at 0.7173. 

The Reserve Bank of Australia just released the minutes of its December 4 meeting, at which policymakers voted to maintain interest rates at 1.5% for the 26th meeting in a row as expected. 

Now investors await US housing data, with building permits expected with a 0.4% drop to 1.260 million units, while housing starts are estimated with a 0.2% increase to 1.230 million. 

The Federal Open Market Committee is meeting today and tomorrow for the periodic policy meeting, with analysts expected the fourth rate hike of the year to below 2.25%. 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates.