The Australian dollar edged up today, trading in a tight range as the market awaits further economic data out of the US and more clues as to whether the US economy will get a helping hand.

In late trade, the Australian dollar was at 104.83 cents, up from 104.72 cents on Wednesday.

CMC Markets foreign exchange dealer Tim Waterer said that ongoing speculation about whether the US Federal Reserve would provide stimulus to the American economy in September remains a market concern as traders spent Thursday positioning themselves for the opening of international markets.

‘‘The Aussie has been trading largely in a half cent range for most of the day, there’s been a lot of indecisiveness in the currency market,’’ Mr Waterer said. ‘‘Today has really about traders getting in position for the US and European session tonight.’’

Mr Waterer said the main focus for the market over the next couple of days will be on the Philadelphia Federal Reserve Manufacturing Index for August to be released on Thursday night, and the University of Michigan consumer sentiment data out on Friday night.

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With no significant Australian economic data scheduled for release on Friday, Mr Waterer said the major market drivers are likely to come from the US and European markets.

AAP