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The Australian Dollar was higher against the U.S. Dollar on Monday after the release of Australian data on Home Loans.

AUD/USD was trading at 1.0690, up 0.16% at time of writing.

The pair was likely to find support at 1.0640, Friday’s low, and resistance at 1.0844, Wednesday’s high.

Earlier in the day, official data showed that The number of new home loans granted in Australia rose more-than-expected to a seasonally adjusted 2.3% last month from 1.8% in the preceding month whose figure was revised up from 1.4%.

Analysts had expected Australian home loans to rise 1.9% last month.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.05% to hit 1.2360 and AUD/JPY rising 0.28% to hit 83.07.

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The pound Australian dollar exchange rate is 0.07% higher with GBP/AUD at 1.4664, the pound New Zealand dollar exchange rate is 0.03% lower with GBP/NZD at 1.8936.

A surprisingly high Chinese inflation figure failed to weigh on the Australian dollar, which remains firm.

"High Chinese inflation (back up at 4.5%) reduces the scope for monetary easing and therefore weighs on the country’s growth outlook and demand for Australian commodities. Still, the aussie dollar marched on, with the market convinced that the spike in inflation will prove temporary, says a morning exchange rate note from the team at Caxton Fx.