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AUD/USD keeps losses despite big beat on Australian trade surplus


Thursday, 7 November 2019 07:57 WIB

Dolar ASDolar Australia,AUD/USD,AussieDolar


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AUD/USD is struggling to pick up a strong bid despite a better-than-expected Australian trade data.

The country's trade surplus widened to A$7,180 million in September, beating the expected print of A$5,000 million by a big margin. The trade surplus stood at A$5,926 million in August.

Exports or outbound shipments rose 3% in September, having dropped by 3% in August. Meanwhile, Imports or inbound shipments also registered a growth of 3%. The uptick in imports could be considered a sign the domestic demand is holding up well following Reserve Bank of Australia's multiple rate cuts. Also, the rise in exports is good news.

Even so, the Aussie dollar is not impressed. The AUD/USD pair continues to trade in the red near 0.6877. An 8-pip bounce seen immediately after the data release was short-lived.

Source : FXstreet


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