Tuesday, 26 May 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
AUD/USD: Above-forecast Aussie trade surplus struggles to power gains in the Aussie
Thursday, 5 March 2020 08:05 WIB | CURRENCIES |AUD/USD,AussieCurrency

AUD/USD is flashing red at press time as the Aussie dollar is struggling to find takers despite the above-forecast Australian trade surplus data.

Australia's January trade surplus came in at A$ 5,210 million, beating the estimate of A$ 4,800 by a big margin. So far, the Aussie dollar hasn't found bids, leaving the AUD/USD pair in the red at 0.6620. The failure to cheer the data could be associated with the fact that the rise in the surplus is not fueled by export growth. Also, the trade surplus narrowed slightly from December's figure of A$ 5,223 million.

The outbound shipments or exports fell by 3% following December's 1% rise. The inbound shipment or imports also fell by 3%, having risen by 2% in the preceding month.

The drop in exports isn't surprising, as the sentiment in the global market had begun weakening in January with the outbreak of the coronavirus in China. Also, investors seem to have come to terms with the possibility of a marked slowdown in the Australian economy in the first quarter and currently appear focused on coronavirus outbreak in the US. That is evident from the fact that the AUD/USD pair rallied for the third straight session on Wednesday.

Source : FXstreet

RELATED NEWS
Dollar Dips As Virus Recovery Optimism Holds...
Tuesday, 26 May 2020 09:18 WIB

The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies, though concerns about Sino-U.S. tensions held further moves in c...

Dollar Drifts Higher in Thin Trade as Hong Kong Flares up Again...
Monday, 25 May 2020 15:10 WIB

The dollar started the week slightly higher in Europe, albeit in modest volumes depressed by public holidays in the U.K. and U.S., against a backdrop of simmering tension between the U.S. and China. ...

USD/JPY: Off intraday top, still above 107.00, as trade sentiment dwindles...
Monday, 25 May 2020 11:17 WIB

USD/JPY retreats from the intraday high near 107.80 to 107.65 amid the early trading session on Monday. Although news of Japan™s likely removes of state of emergency from Tokyo and nearness to anoth...

Dollar edges up on rising US-China tension; yuan, other Asian FX fall...
Friday, 22 May 2020 19:56 WIB

The dollar gained against major peers on Friday as worries about rising diplomatic tensions between the United States and China supported safe-haven demand for the greenback. Sino-U.S. relations have...

U.S.-China tensions lift dollar 0.3%...
Friday, 22 May 2020 15:20 WIB

The dollar rose on Friday in overnight trading and extended its gains in early London trading, after U.S.-China tensions boosted demand for safe-haven currencies. U.S. President Donald Trump said tha...

LATEST NEWS
European Markets Bounce On Global Vaccine Hopes

European stocks opened higher on Tuesday, tracking positive global market sentiment as optimism grows that a coronavirus vaccine can be found. The pan-European Stoxx 600 jumped 1.1% at the start of trading, travel and leisure stocks adding 2.5% to...

Gold Ticks Up On China-U.S. Tensions Over Hong Kong

Gold ticked higher on Tuesday as brewing Sino-U.S. tensions over Hong Kong lifted demand for the safe-haven metal, though easing coronavirus-induced lockdown restrictions supported equities and capped bullion™s gains. Spot gold rose 0.2% to...

Tokyo Stocks Close Sharply Higher

Tokyo stocks closed sharply higher Tuesday as investors took heart from the lifting of Japan's coronavirus state of emergency and hopes for the gradual reopening of the world's third-largest economy. The benchmark Nikkei 225 index ended up 2.55...

POPULAR NEWS
Gold Falls as Potential Japan Stimulus Boosts Risk Appetite
Monday, 25 May 2020 15:13 WIB

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh...

Gold Down Over Escalating U.S.-China Tensions
Monday, 25 May 2020 13:36 WIB

Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset. Gold...

US Marks Memorial Day as Coronavirus Toll Nears 100,000
Monday, 25 May 2020 18:51 WIB

Monday is Memorial Day in the United States “ a day set aside to honor the hundreds of thousands of U.S. servicemen and women who sacrificed their...

Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy
Monday, 25 May 2020 08:31 WIB

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in...