THE Australian dollar closed marginally higher today after risk-averse traders steered clear of growth currencies ahead of the release of US labour force figures. 

At 5pm (AEDT), the Australian dollar was trading at $US0.9280/83, up 0.13 per cent from Wednesday's close of $US0.9269/71.

During the domestic session, the local unit traded between $US0.9248 and $US0.9310.

Commonwealth Bank economist Sara Hoenig said a general feeling of "lower risk aversion" had kept domestic currency in a narrow range throughout the local session.

"It has been quite a quiet session," Ms Hoenig said. "The Aussie did reach above US93 cents early in the afternoon and that was encouraged by small gains in equity markets and a widening in the spread between Australian and US two-year bond yields as well as a further retreat in risk aversion which we've seen over the last few days."

The Australian share market also closed slightly higher today, with the benchmark S&P/ASX200 index up 12.2 points, or 0.26 per cent, to 4,774.6, and the broader All Ordinaries index up 12.6 points, or 0.26 per cent, to 4,789.3.

On the Sydney Futures Exchange, the December share price index futures contract was 19 points higher at 4,784, on a volume of 17,539 contracts.

The Australian dollar had opened the day just below US93c after a quiet overnight session.

"There was this feeling of lower risk aversion and greater tolerance for currencies which have greater exposure to the global growth cycle," Ms Hoenigh said.

"It really wasn't a very exciting session."

The release of Australian retail sales, showing a rebound in October, were in line with market expectations and did not have much impact.

Retail sales rose 0.3 per cent to a seasonally adjusted $19.751 billion in October, the Australian Bureau of Statistics said.

Ms Hoenig forecast a "quiet" upcoming offshore session in the lead-up to the release of the November non-farm payrolls report in the US.

"Investors may be hesitant to take on greater positions ahead of such important market-moving economic report," she said.

AAP