The Australian dollar rose today following yesterday’s drop. The currency gained thanks to the improvement of the nation’s trade balance.
The trade balance deficit shrank from A$3.25 billion in June to A$2.41 billion in July. It was a better reading than the predicted A$2.65 billion. This allowed the Aussie to rally against its major peers while yesterday economic data was not as supportive, leading to a drop of the currency.
AUD/USD rose from 0.7670 to 0.7772 as of 10:14 GMT today. EUR/AUD fell from 1.4633 to 1.4601.
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