The AUD/USD par has been trading to the downside for the sixth consecutive trading session; it is testing July’s lows.
On Thursday morning, the Australian Dollar is falling against the USD. The current quote for the instrument is 0.7595.
The report on the Australian Trade Balance published today showed the reading of A$2.471B, which is twice bigger than expected.
The Exports in Australia added 9% m/m in May, up to А$32.781B, thus eliminating the decline by 8% m/m in April. The Imports expanded by 1.0% m/m in May after losing 1.0% m/m the month before.
It appears that the domestic demand in the Australian economy “died out” in May, but recovered in June. The Exports got stabilized and that’s good, because it gives reasons to believe that the trade balance surplus may continue growing. Moreover, solid numbers of this indicator will provide support to the Aussie rate.
However, right now it doesn’t seem too optimistic, because the previous report was rather weak.
RoboForex Analytical Department