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 strengthened to around $0.651 on Friday, recouping some losses in the previous session, as a surge in iron ore prices, driven by renewed optimism over Chinese economic support, l...
The Australian dollar weakened to below $0.650 on Thursday, pulling back gains from the previous session, as weaker-than-expected labor data reinforced expectations of an RBA rate cut in August. The ...
The Australian dollar strengthened to around $0.653 on Wednesday, snapping a three-day losing streak, as investors turned their attention to Thursday's labor market data, which could provide fresh ins...
The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surg...
The Australian dollar edged higher to around $0.654 on Tuesday, following a notable decline in the previous session, largely driven by renewed optimism over US President Donald Trump's willingness to ...
The EUYR/USD finished Friday's session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the...
The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation pressures and as U.S. President Donald Trump...
Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from...
Unemployment claims fell 7,000 to 221,000 in the week ending July 12, compared with the median estimate of 233,000, according to Labor Department...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President...
Federal Reserve Governor Adriana Kugler said the US central bank should keep interest rates steady "for some time," citing accelerating inflation as...