$A holds steady against the greenback

The Australian dollar has held its ground against its US counterpart, trading in a tight range ahead of the release of local retail trade figures..

The Australian dollar has held ground just above its Wednesday close but remains in a tight range against the greenback ahead of the release of local retail trade. At 0700 AEST on Thursday, the local unit was trading at 75.88 US cents, up slightly from 75.85 on Wednesday. The US dollar gained against most currencies in overnight trade off the back of positive employment data but analysts remain focused on the Aussies potential to again rise above 76 US cents. On Thursday the release of June retail sales figures is expected to show a marginal increase in shopper activity Westpac currency strategist Imre Speizer said the Aussie still has momentum towards 76 US cents but the retail sales figures are a risk factor Lower interest rates and a lift in sentiment should contribute to a marginal improvement, although a significant spending lift seems to have largely missed retailers of late, he said. CURRENCY SNAPSHOT AT 0700 AEST ON THURSDAY One Australian dollar buys: * 75.88 US cents, from 75.85 cents on Wednesday * 76.829 Japanese yen, from 76.75 yen * 68.05 euro cents, from 67.72 euro cents * 105.99 NZ cents, from 105.5 NZ cents * 56.95 British pence, from 57.01 British pence GOVERNMENT BOND YIELDS AT 0700 AEST ON THURSDAY * CGS 5.25pct March 2019, 1.4287 pct, from 1.428 pct on Wednesday * CGS 4.25pct April 2026, 1.929 pct, from 1.9285 pct Sydney Futures Exchange prices: * September 2016 10-year bond futures contract was at 98.065 (implying a yield of 1.935 per cent), from 98.055 (1.945 per cent) on Wednesday * September 2016 3-year bond futures contract was at 98.6 (1.40 per cent), from 98.61 (1.39 per cent). (*Currency closes taken at 1700 AEST previous local session, bond market closes taken at 1630 AEST previous local session) Source: IRESS AAP pt/