Domestic data was less supportive too with electronic card retail sales rising a mere 0.1% in November, suggesting policy will have to remain accommodative to fuel consumer spending.
Closer to home, a gauge of Australian consumer sentiment hit a 10-year high in a sign domestic activity will remain strong in the final quarter of 2020 after a stellar third-quarter.
"So far the pullback of the past two days appears to be only a mild correction to an uptrend which remains intact," Westpac Banking Corp analysts said in a note.