Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Tuesday, while the New Zealand dollar edged higher as investors awaited the release of U.S. economic growth data later in the day amid overall optimism over the strength of the economy.
AUD/USD eased 0.08% to 0.7475.
Market participants were eyeing the release of preliminary third-quarter economic growth data from the U.S., for further indications on the strength of the economy.
The greenback has remained broadly supported in recent weeks amid expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation.
The dollar has also been boosted by the view that a rate hike by the Federal Reserve in December is a near certainty.
NZD/USD added 0.17% to trade at 0.7085.
Investors were also looking ahead to Wednesday’s OPEC meeting, amid growing uncertainty over the possibility for a production cut deal.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.14% at 101.34, still close to last Thursday’s 14-year peak of 102.12.