The Australian dollar was steady against its US counterpart and rose versus other most-traded rivals even though macroeconomic data, both domestic and from abroad, was not particularly good.
Australia’s trade balance surplus narrowed sharply from A$3.17 billion in March to A$0.56 billion in April, far below the predicted value of A$1.91 billion. China’s trade surplus rose from $38.1 billion in April to $40.8 billion in May but was also below the forecast of $47.5 billion. The Australian dollar fell after the reports intraday but managed to bounce as of now.
AUD/USD traded at 0.7538 as of 11:31 GMT today after opening at 0.7546 and falling to 0.7524 intraday. AUD/JPY rose from 82.87 to 82.99 following the drop to the daily low of 82.56.
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