Aussie stands still after gloomy trade data, Kiwi jumps

Aussie stands still after gloomy trade data, Kiwi jumps

On Thursday, the Australian dollar was intact versus its US rival, following the publication of dismal Australian trade balance data. Meanwhile, the New Zealand dollar moved up because traders monitored the day’s three potential market movers.

The currency pair AUD/USD didn’t change at 0.7549, which is not far from last session’s six-week peaks of 0.7569.

The Australian Bureau of Statistics previously told that in April the trade surplus dipped to A$0.555 billion from A$3.169 billion in March, whose outcome was revised from a previously assessed surplus of A$3.107 billion.

Financial experts had expected the trade surplus to go down to A$1.950 billion in April.

A separate report disclosed that in May China’s exports grew by an annualized rate of 8.7%, surpassing hopes for a 7.0% ascend, while imports leap 14.8%, thus blowing past projections for a surge of 8.5%.

China appears to be Australia’s number one export partner.

The currency pair NZD/USD grew 0.14%, trading at 0.7205, off a three-month high of 0.7211 reached overnight.

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