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Australian Dollar rises on strong trade surplus, US Dollar weakens
The post Australian Dollar rises on strong trade surplus, US Dollar weakens appeared on BitcoinEthereumNews.com. The Australian Dollar advances after the release of domestic trade balance data on Thursday. Australia’s Trade Surplus widened to 5,365 million MoM in June, against the expected 3,250 million. Trump warned that he may impose additional tariffs on China over its purchases of Russian Oil. The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Thursday, following a 0.5% gain in the previous session. The AUD/USD pair gains ground following the release of trade balance data. The Australian Bureau of Statistics (ABS) reported that Australia’s Trade Surplus increased to 5,365 million month-over-month in June, surpassing the expected 3,250 million and the previous 1,604 million (revised from 2,238 million). The monthly Exports rose by 6.0% in June, while Imports fell by 3.1%. China’s Trade Balance arrived at CNY705.10 billion in July, expanding from the previous figure of CNY585.96 billion. Exports rose 8.0% YoY in July following 7.2% in June, while imports increased 4.8% YoY against 2.3% recorded previously. In US Dollar (USD) terms, China’s Trade Balance arrived at +98.24 billion versus +105 billion expected and +114.77 billion priors. US President Donald Trump warned China, Australia’s close trading partner, that he could impose further tariffs similar to the 25% levies announced earlier on India over its Russian Oil purchases, depending on what happens, per Reuters. The Reserve Bank of Australia (RBA) is widely anticipated to deliver a 25 basis point rate cut next week, which would bring the cash rate down to 3.60%. The case for easing has grown stronger as core inflation slowed to 2.7% in June, well within the RBA’s 2–3% target, along with rising unemployment and slowing wage growth. Australian Dollar advances as US Dollar weakens ahead of Jobless Claims The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies,…
The post Australian Dollar rises on strong trade surplus, US Dollar weakens appeared on BitcoinEthereumNews.com.
The Australian Dollar advances after the release of domestic trade balance data on Thursday. Australia’s Trade Surplus widened to 5,365 million MoM in June, against the expected 3,250 million. Trump warned that he may impose additional tariffs on China over its purchases of Russian Oil. The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Thursday, following a 0.5% gain in the previous session. The AUD/USD pair gains ground following the release of trade balance data. The Australian Bureau of Statistics (ABS) reported that Australia’s Trade Surplus increased to 5,365 million month-over-month in June, surpassing the expected 3,250 million and the previous 1,604 million (revised from 2,238 million). The monthly Exports rose by 6.0% in June, while Imports fell by 3.1%. China’s Trade Balance arrived at CNY705.10 billion in July, expanding from the previous figure of CNY585.96 billion. Exports rose 8.0% YoY in July following 7.2% in June, while imports increased 4.8% YoY against 2.3% recorded previously. In US Dollar (USD) terms, China’s Trade Balance arrived at +98.24 billion versus +105 billion expected and +114.77 billion priors. US President Donald Trump warned China, Australia’s close trading partner, that he could impose further tariffs similar to the 25% levies announced earlier on India over its Russian Oil purchases, depending on what happens, per Reuters. The Reserve Bank of Australia (RBA) is widely anticipated to deliver a 25 basis point rate cut next week, which would bring the cash rate down to 3.60%. The case for easing has grown stronger as core inflation slowed to 2.7% in June, well within the RBA’s 2–3% target, along with rising unemployment and slowing wage growth. Australian Dollar advances as US Dollar weakens ahead of Jobless Claims The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies,…
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