The Australian Dollar (AUD) strengthened following the release of China's Trade Balance data on Thursday. However, the AUD came under downward pressure against the US Dollar (USD) following the earlier Australian Trade Balance data during Asian hours. Downside risks for the AUD/USD pair seem likely as the US Dollar (USD) may strengthen further on market optimism following former President Donald Trump's victory in the US election.
China's trade volume expanded in October, reaching $95.27 billion year-on-year, beating the estimate of $75.1 billion and the previous $81.71 billion. Exports rose by 12.7% YoY, well above the estimate of a 5.0% increase and the previous 2.4% growth. Meanwhile, imports fell by 2.3% year-on-year, beating the estimate of a 1.5% decline and in contrast to the previous 0.3% increase.
Australia's trade surplus fell to 4.609 million in September, down from the 5.300 million expected and August's 5.284 million, the Australian Bureau of Statistics reported on Thursday. It was the smallest trade surplus since March, driven by a bigger drop in exports than imports.
Traders are anticipating the US Federal Reserve (Fed) to cut interest rates by 25 basis points at its November meeting on Thursday. The CME FedWatch Tool shows a 98.1% probability that the Fed will make a quarter-point rate cut in November, indicating a strong market consensus for a modest cut this week.
Source: FXStreet
The Australian Dollar is the best performer among major currencies in an otherwise calm start tobe the year. The Aussie appreciates nearly 0.5% against the US Dollar in the daily chart, so far, buoyed...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve B...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This l...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data....
The Australian dollar strengthened to around US$0.65 on Wednesday, hitting a one-week high. This strengthening occurred after higher-than-expected inflation data came out, further convincing the marke...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the...
Harga emas kembali menguat pada perdagangan terbaru setelah sempat tertekan, didorong oleh melemahnya dolar AS dan turunnya imbal hasil obligasi pemerintah AS. Investor kembali memburu emas sebagai aset lindung nilai di tengah ketidakpastian arah...
Silver is currently hovering around $77,430, likely awaiting triggers from the US dollar and yields. If the dollar strengthens, silver is usually resilient; if the dollar weakens, silver rises more easily.Fundamentals are still supported by safe...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next...
Geopolitical issues have heated up again after statements and political signals from the United States sparked speculation about a possible US...
The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of...
Federal Reserve Vice Chair for Supervision Michelle Bowman outlined significant changes to bank supervision and regulation during a speech at the...