Aussie Flat After Release of Australian Trade Balance

The Australian dollar was little changed today after the release of surprisingly strong trade balance data.

Australia’s trade surplus climbed to A$2.47 billion in May, far exceeding the median forecast of A$1.00 billion. The April’s reading was revised from A$0.56 billion to A$0.09 billion. The Australian currency did not profit from the data most likely because of the disappointment that the Reserve Bank of Australia did not turn hawkish, unlike other major central banks.

AUD/USD traded at about its opening level of 0.7601 as of 9:26 GMT today. EUR/AUD ticked up from 1.4926 to 1.4946.

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