The Australian dollar is higher after patchy US economic data pushed the greenback lower.

At 0700 AEST on Friday, the local unit was trading at 75.52 US cents, up from 75.44 cents on Thursday.

Westpac senior market strategist Imre Speizer said the US dollar was weaker after official data showed unit labour costs rose following a fall in productivity.

The data raises concerns about tepid corporate profits, which could impact the ability of US-based companies to hire new workers.

“The Australian dollar bounced off an early New York low of 75.05 US cents to 75.59 cents,” Speizer said in a note.

“The US dollar’s weakness overnight should support the Aussie in a 75-76 US cent range ahead of tonight’s important US payrolls report.”

The major risk event for the currency on Friday is the release of the official US non-farm payrolls report for August.

AAP

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