The Australian dollar weakened against the other major currencies in the Asian session on Tuesday, as investors digested the minutes of the Reserve Bank of Australia's March meeting.

Minutes from the bank's March 7 meeting revealed that members of the Reserve Bank of Australia's monetary policy board expected to see consumer prices continue to rise, albeit at a gradual pace.

The members noted that the Australian economy is continuing to move away from a focus on mining investment, in spite of a mild rebound in commodity prices, the minutes showed.

In other economic news, the Australian Bureau of Statistics said that house prices in Australia advanced 4.1 percent on quarter in the fourth quarter of 2016. That beat forecasts for a gain of 2.5 percent following the 1.5 percent increase in the third quarter.

On a yearly basis, prices spiked 7.7 percent, again beating estimates for 6.3 percent and up from 3.5 percent in the three months prior.

Meanwhile, crude oil futures edged lower amid reports that OPEC may extend its supply quota experiment beyond this year.

Monday, the Australian dollar had risen 0.38 percent against the U.S. dollar, 0.03 percent against the yen, 0.27 percent against the euro and 0.37 percent against the Canadian dollar. Meanwhile, the aussie dropped against the NZ dollar.

In the Asian trading, the Australian dollar fell to a 6-day low of 1.0929 against the NZ dollar and a 4-day low of 1.3967 against the euro, from yesterday's closing quotes of 1.0956 and 1.3893, respectively. If the aussie extends its downtrend, it is likely to find support around 1.08 against the kiwi and 1.41 against the euro.

Against the U.S. dollar, the yen and the Canadian dollar, the aussie slipped to 0.7701, 86.79 and 1.0282 from yesterday's closing quotes of 0.7727, 86.99 and 1.0320, respectively. The aussie may test support near 0.75 against the greenback, 86.00 against the yen and 1.01 against the loonie. Looking ahead, Swiss SECO economists forecasts for March is due to be released in the pre-European session at 2:45 am ET.

Swiss trade data for February, U.K. consumer price, producer price and retail price indexes for February, house price index for January and public sector finance data for February are slated for release later in the day.

At 6:00 am ET, Federal Reserve Bank of New York President William Dudley and Bank of England Governor Mark Carney are expected to participate in a panel discussion about ethics and culture in banking at the Bank of England, in London.

At 7:45 am ET, Federal Reserve Deputy Director for Division of Bank Supervision and Regulation Maryann Hunter will attend American Bankers Association's Government Relations Summit in Washington.

In the New York session, Canada retail sales data is set to be published.

At 12:00 pm ET, Federal Reserve Bank of Kansas City President Esther George is expected to speak on the U.S. economy and the Federal Reserve before an event hosted by Women in Housing and Finance, in Washington.

At 3:45 pm ET, Bank of Canada Deputy Governor Lawrence Schembri will deliver a speech at the Greater Vancouver Board of Trade.

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