The Australian dollar has opened stronger after a choppy weekend session.
At 0700 AEST, the Australian dollar was trading at $US0.8665/72, up from Friday's close of 0.8627/30.
During the weekend offshore session, the local currency moved between a low of $US0.8610 and a high of 0.8690.
The Australian dollar was up early in Friday's New York session, where it hit its weekend high of $US0.8690, but gave up some of those gains as the price of oil and gold fell.
Crude for September delivery fell $US1.24 to settle at $US113.77 a barrel on the New York Mercantile Exchange on Friday.
The price touched $US111.34 a barrel during trade, its lowest point for a front-month crude oil contract since May 2.
Oil reached a record high of $US147.27 on July 11.
Gold for December delivery dropped $US22.40 to settle at $US792.10 an ounce on the New York Mercantile Exchange.
Bank of New Zealand currency strategist Danica Hampton said worries about the global outlook, which hurt commodity prices, had taken a toll on the Australian dollar.
"As a commodity exporting nation, Australia is highly dependent on both the outlook for global growth and commodity prices," Ms Hampton said from Wellington.
"It was a choppy session for the currency."
There were some positive US data on Friday night, with US industrial production up by 0.2 per cent in July, while a survey found manufacturing activity in New York state increased in the same month.
Also, a University of Michigan/Reuters survey of consumer confidence was up in August.
"The data gave the US dollar some support, but I think people are starting to worry that maybe we will see a little bit of a breather in the US dollar rally," Ms Hampton said.
There is no significant local economic data due on Monday, with the market focused on the release of the Reserve Bank of Australia's (RBA) August board meeting minutes due on Tuesday.
"There have been a mixed bag of factors going on affecting the Australian dollar, but I do think it is really in a consolidation phase and it will wait for the RBA minutes for direction," Ms Hampton said.
Ms Hampton said she expected the Australian dollar to trade between $US0.8720 and $US0.8590 during the local session.
