The Australian dollar is weaker after global central banks signalled a new round of money printing.

At 0700 AEST on Tuesday, the local unit was trading at 75.34 US cents, down from 75.48 cents on Monday.

BK Asset Management managing director of FX strategy Kathy Lien said imminent liquidity injections by the central banks of Japan and the UK, with possible moves in the Eurozone and Switzerland, had pushed the US dollar higher overnight.

All three of the commodity currencies traded lower against the greenback today with the New Zealand dollar experiencing the greatest losses,” she said in a note.

“Australia also reported better than expected data with home loans falling by a smaller amount in May. The currency (the Aussie dollar) was dragged down by a stronger US dollar and lower gold prices.”

Lien said the main risk event for the currency on Tuesday would be business confidence and credit card purchases.

AAP

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