01.09.201401:35:36UTC+00Australian dollar slightly lower before economic news

The Australian dollar declined marginally before a busy week of economic news.

On Monday, the Aussie traded at 93.36 US cents, down from Friday’s 93.56 US cents.

The currency lost its footing last week following a stronger US manufacturing data, which bolstered the US dollar.

Since then, the currency has been trading in a close range between 93.19 US cents and 93.42 US cents.

Traders will await the building approvals data on Tuesday, economic growth figures for June Wednesday, and retail spending and international trade data Thursday.

“The Australian dollar will gain ground this week because expectations are low for June quarter data,” said David de Ferranti, Market Analyst at FXCM.