The Australian dollar has remained fairly steady overnight as traders prepare for key economic data to be released later in the week.

At 0700 local time (AEDT) on Tuesday, the local unit was trading at 72.49 U.S. cents, down from 72.53 U.S. cents on Monday.

The Aussie dollar is in a "holding pattern" with the market appearing defensive ahead of bigger risk events later in the week, said Bank of New Zealand currency strategist Raiko Shareef.

The U.S. Federal Reserve and Bank of Japan will meet this week, while Australia's third quarter inflation numbers and U.S. gross domestic product figures are due to be released.

At 0955 local time (AEDT), the Australian dollar was trading at 72.44 U.S. cents. Endit