The Australian dollar is back below US83c as oil prices come under further pressure after OPEC cut its 2015 demand forecast.

At 7am (AEDT) on Thursday, the local currency was trading at US82.90c, down from US83.20c on Wednesday.

“Oil was the big story of the night, down again large,” National Australia Bank senior economist David de Garis said.

“Brent crude was down… to $US63.40 as OPEC cut its demand forecast to a 12-year low.”

Locally, all eyes on Thursday will be on the release of jobs figures for November, although recent volatility in the figures have made them less reliable.

Source : MarketsSpectator